Oxygen Biotherapeutics picks PPD as the contract research organization to run a Phase 2 clinical trial on a proposed treatment for traumatic brain injury.
Financial terms of the agreement were not disclosed.
OxyBio (Nasdaq: OXBT) said PPD would “resume and complete” the Phase 2-B trial. The firm has completed one portion of the study.
“The development of Oxycyte as a potential breakthrough therapy for severe traumatic brain injury remains the top priority of this company, and for the past 12 months we have remained committed to resuming enrollment in our clinical trials,” said OxyBio Chief Executive Officer Michael Jebsen. “Engaging a qualified CRO is a critical step in getting trial sites back up and running and open for enrollment by year-end.”
PPD is based in Wilmington and has an operation in the Triangle.