Australian biotech company Acrux has announced plans to export its new testosterone treatment across the globe, following a trial which showed Axiron significantly improved the mood and lifestyle of participants.
“This is a very significant measure for an Australian biotech company,” CEO Richard Treagus told SmartCompany.
“There are only a very small handful of Australian biotech companies that have managed to take a product through all the stages of development to the final stage as we have, so we’re very proud of the results.”
The product’s phase 3 test results, released yesterday, showed Axiron enabled normal testosterone levels in 84% of men after four months of treatment, compared to the 75% required by the US Food and Drug Administration.
After two weeks, 76% of participants had blood testosterone levels within the normal range.
The results place Acrux in a strong position to enter the billion dollar US market for low testosterone and erectile dysfunction treatments.
Acrux will begin a formal partnering process in October, Tragus says. The company hopes to have Axiron on the shelves in Europe, Asia, Australia and North and South America by early 2011.
Smart Company is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
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