Pharmos Begins Second Study of Pain Drug, Acquires Vela Pharma

Pharmos Corp. began dosing in a second Phase IIa study of cannabinor (PRS-211,375) for the treatment of pain. The proof-of-concept trial will test for analgesic activity and safety in healthy subjects experiencing capsaicin-induced pain. The study will include 24 male subjects in a two-way crossover design and is expected to be complete in the fourth quarter of this year.

In addition to the ongoing clinical testing of cannabinor in an intravenous formulation, Pharmos is developing an oral formulation of the drug candidate to move into Phase I testing later this year or early 2007. An oral formulation will facilitate clinical development of cannabinor for chronic pain conditions.

The company also noted that patient enrollment continues in its separate Phase IIa trial of cannabinor as a treatment for nociceptive pain in third molar dental extraction that is expected to be completed in the third quarter of this year.

Also, Pharmos has entered into a definitive agreement to acquire Vela Pharmaceuticals, a company specializing in the “re-discovery” and continued development of medicines related to the nervous system, including the brain-gut axis.