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Osiris Therapeutics, Inc. (OSIR), Derma Sciences Inc (DSCI): The Changing Landscape in Chronic Diabetic Foot Ulcers

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While the market of treating chronic diabetic foot ulcers is by no means glamorous, it can still be a very lucrative indication. Some estimates have put the chronic diabetic foot ulcer market at $2 billion annually by 2017. With so much money hanging in the balance, companies are taking notice and attempting to develop better treatments.

Osiris Therapeutics, Inc.

One of the companies attempting to develop a better treatment for chronic diabetic foot ulcers is Osiris Therapeutics, Inc. (NASDAQ:OSIR). Earlier this month, Osiris Therapeutics, Inc. (NASDAQ:OSIR) shares more than doubled as the company announced positive data for its CDFU drug Grafix. The study results were very impressive to say the least; the study was stopped early due to the overwhelming efficacy exhibited by the treatment. A main highlight is the fact that 62% of Grafix patients had their wound closed at 12 weeks, compared to only 21% of patients using conventional methods. Clearly, the efficacy in this endpoint was overwhelming. Grafix also achieved all of the secondary endpoints for the trial, and more importantly demonstrated a relatively benign safety record.

Grafix has raised the bar on chronic diabetic foot ulcer treatment. Another company developing treatments for CDFU is Derma Sciences Inc (NASDAQ:DSCI). Derma is developing a treatment called DSC 127, which is currently in phase 3 trials with results expected in 2015.

With this in mind, quickly comparing the data it appears as though Osiris Therapeutics, Inc. (NASDAQ:OSIR) may have just trumped Derma Sciences Inc (NASDAQ:DSCI)’s treatment. In Derma’s phase 2 study, it announced that 54% of patients in its intent to treat group experienced wound closure, compared to 33% in the control group at 12 weeks. Now, Derma Sciences Inc (NASDAQ:DSCI)’s study was a 24-week study, and at week 24, 73.1% of patients using DSC 127 experienced complete wound closure, compared to 48.5% in the control group. Taking into account the data currently available, it appears as though Osiris Therapeutics, Inc. (NASDAQ:OSIR) may have the more effective treatment of the two. However, it will be interesting to see what happens when Derma Sciences Inc (NASDAQ:DSCI) ultimately comes out with its phase 3 data.

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