Stromedix’s STX-100 falls behind schedule

When Cambridge, MA-based Stromedix raised $25 million in 2008, CEO Michael Gilman said he hoped to have the company's lead drug, STX-100, well into Phase II trials by mid-2010. The drug, which was licensed from Gilman's former employer Biogen Idec, treats interstitial fibrosis, which can cause transplanted kidneys to fail. But the FDA has concerns about the safety of Stromedix drug, explains Xconomy, causing the developer to fall a year behind schedule. The good news is that...