Posted 12 May 2006 - 03:48 AM
On April 19, 2006, HaptoGuard, a privately-held company, announced a definitive merger agreement with Alteon Inc. (Amex: ALT). Alteon and HaptoGuard have complementary products under development in cardiovascular diseases and diabetes, including two Phase 2 clinical-stage compounds, ALT- 2074 (formerly known as BXT-51072) and alagebrium. Data is expected around year-end 2006 from a Phase 2 trial of HaptoGuard's ALT-2074 seeking to reduce myocardial injury in diabetic patients undergoing angioplasty or similar interventions. Alteon's alagebrium, which has been shown to improve cardiac function including the ability to significantly reduce left ventricular mass, is being developed for heart failure. The merger is subject to the approval of Alteon and HaptoGuard shareholders and is expected to close in the third quarter of 2006.