Ann Arbor-based Velcura Therapeutics Inc. today plans to announce the successful completion of its first human clinical trial for a compound called VEL-0230 being studied as a treatment for rheumatoid arthritis and other bone diseases.

As for the results, Velcura CEO Michael W. Long said that while final tabulations are still under way, "We're pretty pumped up about it."

In the study, conducted in Tacoma, Wash. Long said the drug proved to be well tolerated by its 30 test subjects. The lone adverse event was one case of dizziness, Long said.

And the drug also proved powerfully effective. In studies of a biomarker for bone loss, even the smallest dose administered knocked down that biomarker by 80 percent. "And this stuff works amazingly fast," Long said. "We got our first indication within 15 minutes."

In extensive preclinical studies, VEL-0230 proved to be a powerful anti-inflammatory agent that also stimulates bone formation and inhibits bone loss. Those characteristics suggest the drug may be an important advance for rheumatoid arthritis patients.

Long said the company will now raise money to fund a Phase II clinical study to determine optimal dosing and efficacy. He said he hopes to start that study late this year or early in 2009.

If VEL-0230 proves successful in rheumatoid arthritis patients, Velcura plans to study it as a treatment for other bone disorders, such as bone loss related to multiple myeloma, bone metastases, and osteoporosis.

Velcura is a spinout of Long's 20 years of research into bone disease at the University of Michigan.

More at www.velcura.com.