Epix to stop clinical development of depression drug

March 20 (Reuters) - Epix Pharmaceuticals Inc EPIX.O said it will discontinue clinical development of its drug to treat severe depression, due to lack of sufficient effectiveness shown in the recently completed mid-stage trial.

While the drug, PRX-00023, continued to show a good safety and tolerability profile, the overall results of the mid-stage trial was disappointing, Chief Executive Michael Kauffman said. (Reporting by Sweta Singh; Editing by Jarshad Kakkrakandy)