Updated on 5 October 2012
DeOvo successfully completed a phase IIb clinical trial under an IND with the US FDA and is poised to poised to begin phase 3 clinical studies with potential approval in the US in late 2014 or early 2015.
Other potential commercial applications will also be investigated by Hatchtech. The protected methodologies of Hatchtech involve identification and selective inhibition of key processes involved in egg hatching.
Hatchtech's novel head lice product is expected to sell like hotcakes. The demand for such products is evident from the fact that the market for prescription lousicides in the US alone is around $90 million, with over-the-counter (OTC) product sales being around the same amount.
Dr Ross Macdonald, CEO, Hatchtech, while speaking about the market demand said that, "We believe that the human head lice market is in great need of an effective ovicide and adulticide. We have focused our efforts on head lice and at this stage have not explored in any detail the opportunity against other human parasites."
Dr Macdonald expects the growth in the head lice market to come from several areas. He feels that emerging markets will be a major driving force as there is a decreasing tacit acceptance of head lice infestation in these markets. He also expects market growth to come from a migration of patients and consumers from ineffective OTC products to highly effective prescription products such as DeOvo. "This is driven in part by the well documented resistance of head lice to most active agents available OTC," he said. Furthermore, it is expected that doctors will increase their prescribing rate of the newer and more effective prescription products.