British pharmaceutical firm BTG said the first of two U.S. trials of its varicose vein treatment Varisolve had met all its end-points, bringing a launch of the long-delayed product a step closer.
Varisolve is a ground-breaking treatment that uses an injectable foam to dissolve the veins as an alternative to stripping.
Its development, however, received a major setback in 2003 when regulators in the United States halted a trial of the drug over concerns about side effects of the foam and its active agent Polidocanol.
BTG's Chief Executive Louise Makin said on Monday that she was "delighted" with the outcome of the first trial.
She said the results of a second study would follow, and the group was on track to submit an application to U.S. regulators by the end of the year.
BTG, which also sells niche anti-poison treatments, decided in 2010 to market Varisolve itself in the United States rather than sharing development costs with a partner.
Shares in BTG, which have risen 15 percent in the last three months, closed at 323.7 pence on Friday, valuing the firm at 1.06 billion pounds ($1.66 billion).
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