Author: Spud
Date: 10-02-03 21:18
Shares in DeCode Genetics rose by more than 15 per cent on Tuesday, after the Icelandic biotechnology company announced that it had discovered a gene that is responsible for obesity in women.
The gene could form the basis of new treatments for obesity.
DeCode said the gene, found after a study of 1,000 Icelandic women, had two forms, one which caused obesity and another version linked to thinness.
Found this while surfing obesity news.
spud
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By David Firn Pharmaceuticals and Chemicals Correspondent
Published: October 1 2003 7:28 | Last Updated: October 1 2003 7:28
Kari Stefansson, chief executive, said, DeCode was working with Merck, the US pharmaceuticals group, to identify potential targets for drugs in the metabolic pathways controlled by the new gene. "This is an important step towards developing new drugs that can treat obesity, perhaps by utilising the body's own mechanisms for promoting and maintaining thinness," he said.
The DeCode gene, details of which have not yet been published in a peer-reviewed scientific journal, is the latest in a string of discoveries that have raised hopes of a miracle pill to fight fat. However, commercial success has proved elusive.
The DeCode discovery is part of a research collaboration with Merck that could be worth up to $90m to the loss-making Icelandic company.
DeCode shares, which are traded on Nasdaq, touched a year high of $5.20, before settling back to $4.91 in morning trading.
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