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TheStreet Open House

Lilly Voluntarily Terminates Phase II Study For LY2886721, A Beta Secretase Inhibitor, Being Investigated As A Treatment For Alzheimer's Disease

Stocks in this article: LLY





INDIANAPOLIS, June 13, 2013 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced it has stopped its Phase II study (BACC) for LY2886721, a beta secretase (BACE) inhibitor being investigated as a once daily treatment for its potential to slow the progression of Alzheimer's disease. The decision to terminate the study was due to abnormal liver biochemical tests. Clinical study investigators have been notified.

"While stopping this Phase II study for our BACE inhibitor is disappointing, patient safety is of utmost importance to Lilly," said Jan M. Lundberg, Ph.D., executive vice president, science and technology, and president, Lilly Research Laboratories. "Discovering and developing medicines for devastating diseases like Alzheimer's is fraught with many challenges, but Lilly's 25-year commitment to bringing medicines to the millions of Alzheimer's disease patients who are waiting will not wane."

The cases of abnormal liver biochemical tests were identified as part of routine monitoring. Lilly will continue to monitor all participants with abnormal liver biochemical tests.

Based on the information Lilly has today, it believes that the abnormal liver biochemical tests observed in this study are not related to the BACE mechanism and continues to be interested in developing BACE inhibitors for the benefit of patients with Alzheimer's disease. Lilly will further evaluate this data prior to determining next steps for the entire LY2886721 clinical development program.

The company expects to incur a financial charge associated with the decision to stop this trial. However, the amount of this charge is not expected to be material and is not expected to result in a change to the company's previously-issued 2013 financial guidance.



About Alzheimer's disease

The total number of new cases of dementia each year worldwide is nearly 7.7 million, which is the equivalent of one new case every 4 seconds. i According to different estimates, between 2 and 10 percent of all cases of dementia start before the age of 65. Advancing age is the strongest risk factor for Alzheimer's disease, with age-specific prevalence nearly doubling every 5 years beyond the age of 65. i The total estimated worldwide cost of dementia was $604 billion in 2010. i



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