Drug Enters Phase 1

A novel prodrug of propofol invented and patented by HBC pharmaceutical scientists at the University of Kansas has entered the clinical testing phase. The University and ProQuest Pharmaceuticals, Inc., an HBC spin-off company headquartered in Lawrence, reached an agreement in 1999 granting ProQuest the rights to the propofol prodrug and related technologies.

In March 2000, Guilford Pharmaceuticals acquired the exclusive rights to develop and commercialize the propofol prodrug from ProQuest. Renaming the prodrug AQUAVAN® Injection, Guilford commenced Phase 1 clinical studies of the drug in Europe in early 2001. Their goal is to assess the safety and pharmacokinetics of different doses of AQUAVAN® Injection in healthy volunteers. Guilford intends to file an Investigational New Drug Application following the successful completion of these studies so that human trials can begin in the U.S.