AGI Therapeutics to diversify after disappointing drug test

AGI Therapeutics will widen its focus beyond gastro-intestinal disorders and develop alternative uses for its flagship Rezular product after disappointing clinical trials earlier this year.

The drug maker, which reported a wider first-half loss yesterday, said it would now focus on developing speciality products for the US and has sufficient cash reserves for at least two years to do that.

Earlier this year, AGI ended the development of Rezular, a treatment for irritable bowel syndrome, but the group said the drug may offer potential treatment for chronic diarrhoea as well as non- diarrhoea-related problems which could lead to potential peak sales of €1 billion.