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.
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