Lipid Therapeutics has announced positive clinical results from a Phase IIb trial of LT-02, a potential treatment for ulcerative colitis.

The randomised, multicentre, double-blind, parallel group, placebo-controlled, and dose-ranging trial involved 56 patients at 24 centres. It demonstrated the efficacy and safety of the drug in patients with mesalazine-refractory ulcerative colitis.

The study also showed that the drug significantly reduced simple clinical colitis activity index score compared to a placebo.

Lipid Therapeutics CEO Gerhard Keilhauer said the company will discuss with its partner in Europe and with potential partners in the US and Japan to initiate a Phase III study of LT-02.

Full data on the trial is expected to be ready by October 2011.