Oxygen Biotherapeutics’ proposed treatment to deliver oxygen to victims of stroke and traumatic brain injury, is halting the Phase 3 clinical trial. The firm says it has been unable to secure enough patients to participate in the trial.
“With the difficulties we have had enrolling patients at the current Phase IIb clinical sites for Oxycyte, the Oxygen Board of Directors and management team has decided that completing this trial in a reasonable period of time is not feasible,” said Dr. Ronald Blanck, chairman of the board, in a statement issued Thursday. “We will be considering strategic alternatives for Oxycyte moving forward.”
Oxygen Biotherapeutics (Nasdaq: OXBT) is based in Morrisville.
Oxycyte was to be tested for safety and tolerability in the trial involving patients with severe non-penetrating traumatic brain injury.
Oxygen Biotherapeutics has another product, levosimendan, in Phase 3 trial. It has been granted fast-track status by the Food and Drug Administration. It is intended to be a treatment that reduces morbidity and mortality in cardiac surgery patients.
