Opko Health Inc. (NASDAQ:OPK) has recruited the first patient for the Phase 2b trial of OPK88003, which will be confirmed for the suitability to treat obesity and type 2 diabetes. The patient will be administered a weekly oxyntomodulin therapy that consists of dual agonist towards the Glucagon and GLP-1 receptors for the treatment of type 2 diabetes as well as excessive weight.
Opko Health will recruit 110 patients suffering from type 2 diabetes to evaluate the efficacy of the innovative formulation OPK88003 at around 30 clinical sites across the US in a thirty week period. Apart from the ability to reduce HbA1c levels, the company will also ascertain the efficacy of the drug to treat obesity as well as lipids composition during the clinical trial.
The CEO and Chairman of Opko Health, Mr. Phillip Frost, M.D. said the company is confident of evaluating the oxyntomodulin dosage to control glucose and prepare the formulation for phase 3 trial.
He is hopeful that OPK88003’s dual agonist activity will provide improved benefits to cure diabetes and provide a better control of glucose. It will also ensure the upbeat cardiovascular health of the patients for the long term. He also believes that OPK88003 is capable of offering improved benefits in containing diabetes when compared to the GLP-1 therapy, which is administered once a week, available in the market.
The company is expected to commence the phase 2b trial of OPK88003 in Q2 2018. Opko Health has already completed the phase 2 trial of the drug on 420 patients suffering from type 2 diabetes over a 12 week period.
According to the phase 2 study, OPK88003 has shown impressive performance in reducing HbA1c levels by 1.4%. It has effectively lowered obesity in patients apart from reducing cholesterol and triglycerides during the study period.
It is estimated that 30 million people in the US are affected by type 2 diabetes annually. Around 1.5 million people in the US are diagnosed with type 2 diabetes every year.
The annual spending for the treatment of diabetes in the US is more than $245 billion.