Pharmaxis Limited (PXS) said it had completed the first Phase I clinical trial, which was designed to determine the tolerance and pharmacokinetic profile of PXS25, following intravenous administration in healthy volunteers. The company said at all doses, PXS25 was found to be safe and well tolerated with a pharmacokinetic profile consistent with a drug that could be delivered once per day. Pharmaxis said the encouraging results from PXS25 in pre clinical testing suggest it would be active in a range of fibrotic diseases. The company added that additional Phase I trials would be completed before PXS25 is evaluated in patients with lung disease.