Adeona gives positive clinical data on arthritis drug

Nov 13 (Reuters) - Adeona Pharmaceuticals Inc (AEN.A) said its experimental rheumatoid arthritis drug showed significant benefit compared with a dummy drug in a mid-stage study on full analysis, sending its shares up as much as 17 percent.

The company said data from the study, which was published in the journal Arthritis & Rheumatism, showed that the drug dnaJP1, provided 20 percent improvement at least once on day 112, 140 or 168 of treatment.

The drug was safe and well tolerated in the study. Adeona is looking for a partner to help develop and commercialize the drug.