Commercial IBS drug ‘in 10 years’

DUBLIN-based pharmaceutical company AGI Therapeutics said yesterday that it is confident of introducing the first commercial treatment for irritable bowel syndrome (IBS) in the US market in 10 years.

“This is a disease which seriously affects the quality of life of millions of patients and for which there are few effective therapeutic options available,” said AGI chief executive Dr John Devane.

Dr Devane was speaking after the publication of AGI’s full-year results for 2008 — which detailed a narrowing of the company’s net loss from $20.7 million (e15.7m) to $18.2m (e13.7m) and a 3.7c (2.8c) reduction in its loss per ordinary share to 27c (20.4c).