Patent Publication Number: US-2007105959-A1

Title: Cynnamyl alcohol derivative compounds and drugs containing the compounds as active ingredient

Description:
TECHNICAL FIELD  
      The present invention relates to synnamyl alcohol derivative compounds.  
      For more detail, the present invention relates to 
      (1) a compound represented by formula (I)  
                 
   

      (wherein all the symbols have the same meanings as described below), a salt thereof, a solvent or a N-oxide, or a prodrug thereof, 
      (2) a process for the preparation thereof, and     (3) a pharmacological agent comprising of them as an active ingredient.    

     BACKGROUND ART  
      Recently in the study of transcription factors associated with marker genes expression induction in adipocytes differentiation, peroxisome proliferator activated receptor (abbreviated as PPAR hereinafter), which is one of intranuclear receptors, has got attention. The cDNAs of PPAR were cloned from various kinds of animals, and plural isoform genes were found, particularly in mammals three types of isoforms (α, δ, γ) are known (see  J Steroid Biochem. Molec. Biol.,  51, 157 (1994);  Gene Expression.,  4, 281 (1995);  Biochem Biophys. Res. Commun.,  224, 431 (1996);  Mol. Endocrinology.,  6, 1634 (1992)). Further, it is known that PPAR γ isoform predominantly expresses in adipose tissues, immune cells, adrenal gland, spleen, small intestine, PPAR α isoform mainly expresses in adipose tissue, liver, retina, and PPAR δ isoform universally expresses without specificity for tissue (see  Endocrinology.,  137, 354 (1996)).  
      By the way, thiazolidine derivatives such as pioglitazone hydrochloride, rosiglitazone maleate etc. are known as agents for the treatment of non-insulin dependent diabetes mellitus (NIDDM) and are hypoglycemic agents which are used for the improvement of hyperglycemia in the patients suffering from diabetes. They are also effective for the improvement of hyperinsulinemia, glucose tolerance and decrease of serum lipid and therefore they are thought to be considerably hopeful as agents for the improvement of insulin resistance.  
      In addition, one of the intracellular target proteins of these thiazolidine derivatives is exactly PPAR γ and it is resolved that they enhance the transcription activity of PPAR γ (see  Endocrinology.,  137, 4189 (1996);  Cell.,  83, 803 (1995);  Cell.,  83, 813 (1995);  J Biol. Chem.,  270, 12953 (1995)). Therefore, a PPAR γ activator (agonist) which enhances its transcription activity is thought to be hopeful as a hypoglycemic agent and/or a hypolipidemic agent. Furthermore, since a PPAR γ agonist is known to promote the expression of PPAR γ protein itself ( Genes  &amp;  Development.,  10, 974 (1996)), an agent which increases the expression of PPAR γ protein itself as well as PPAR γ activating agent is also thought to be clinically useful.  
      Intracellular receptor, PPAR γ is related to adipocytes differentiation (see  J Biol. Chem.,  272, 5637 (1997) and  Cell.,  83, 803 (1995)). It is known that thiazolidine derivatives which activate this receptor promote adipocytes differentiation. Recently it was reported that thiazolidine derivatives increase body fat and cause man to gain weight and to become obese (see  Lancet.,  349, 952 (1997)). Therefore, it is also thought that antagonists which inhibit PPAR γ activity and agents that decrease the expression of PPAR γ protein itself are also clinically applicable. On the other hand, a compound that phosphorylates PPAR γ protein and decreases its activity is reported ( Science.,  274, 2100 (1996)). This implies that an agent which does not bind on PPAR γ protein as a ligand, but inhibits its activity is also clinically applicable.  
      From these, PPAR γ activators (agonists) and PPAR γ regulators for its expression that can increase the expression of the protein itself are expected to be useful as hypoglycemic agents, hypolipidemic agents, and agents for prevention and/or treatment of diseases associated with metabolic disorders such as diabetes, adiposity, metabolic syndrome, hypercholesterolemia and hyperlipoproteinemia etc., hyperlipidemia, atherosclerosis, hypertension, circulatory diseases and overeating etc.  
      On the other hand, antagonists that inhibit the transcription activity of PPAR γ or PPAR γ regulators that inhibit the expression of the protein itself are expected to be useful as hypoglycemic agents and agents for prevention and/or treatment of diseases associated with metabolic disorders such as diabetes, obesity and metabolic syndrome, etc., hyperlipidemia, atherosclerosis, hypertension and overeating etc.  
      Additionally, the following fibrate compound (e.g., chlofibrate) is known as a hypolipidemic agent. It is also resolved that one of the intracellular target proteins of fibrate compounds is PPAR α (see  Nature.,  347, 645 (1990);  J Steroid Biochem. Molec. Biol.,  51, 157 (1994);  Biochemistry.,  32, 5598 (1993)). From these facts, PPAR α regulators which can be activated by fibrate compounds are thought to have a hypolipidemic effect, and so they are expected to be useful as agents for prevention and/or treatment of hyperlipidemia etc.  
      Besides, it has been recently reported that PPAR α possesses anti-obese activity in the specification of WO 9736579. In addition, it was reported that the elevation of high density lipoprotein (HDL) cholesterol level and the reduction of low density lipoprotein (LDL) cholesterol, very low density lipoprotein (VLDL) cholesterol and triglyceride levels were induced by activation of PPAR α ( J Lipid Res.,  39, 17 (1998)). It was also reported that composition of fatty acids in blood, hypertension and insulin resistance were improved by administration of bezafibrate which is one of fibrate compounds ( Diabetes.,  46, 348 (1997)). Therefore, agonists that activate PPAR α and PPAR α regulators that promote expression of PPAR α protein itself are useful as hypolipidemic agents and agents for treatment of hyperlipidemia, and are expected to have HDL cholesterol level-elevating effect, LDL cholesterol and/or VLDL cholesterol levels-lowering effect, inhibition on the progress of atherosclerosis and anti-obese effect. Therefore, they are thought to be hopeful agents for the treatment and/or prevention of diabetes as hypoglycemic agents, for the improvement of hypertension, for the relief from risk factor of metabolic syndrome and for the prevention of occurrence of ischemic coronary diseases.  
      On the other hand, few reports are found on ligands that activate PPAR δ significantly or on biological activities associated with PPAR δ.  
      PPAR δ is sometimes called PPAR β, or it is also called NUC1 in human. Until now, as for activity of PPAR δ, it is disclosed in the specification of WO 9601430 that hNUC1B (PPAR subtype whose structure is different from that of human NUC1 in one amino acid) inhibited the transcription activities of human PPAR α and thyroid hormone receptor. Recently in the specification of WO 9728149, it was reported that the compounds, which possessed high affinity to PPAR δ protein and which could activate PPAR δ significantly (i.e. agonists) were found out and that they had HDL (high density lipoprotein) cholesterol level-elevating activity. Therefore, agonists that can activate PPAR δ are expected to have HDL cholesterol level-elevating effect, and so they are expected to be useful for the inhibition on the progress of atherosclerosis and treatment thereof, as hypolipidemic agents and hypoglycemic agents, for the treatment of hyperlipidemia, as hypoglycemic agents, for the treatment of diabetes, for the relief from risk factor of metabolic syndrome, and for the prevention of occurrence of ischemic heart diseases.  
      In the specification of W002/098840, it is disclosed that the carboxylic acid derivatives represented by formula (A)  
                 
 
 (wherein L A , X A , T A , X A  is single bond etc.; W is carboxyl; Y is aromatic group, alicyclic hydrocarbon group; Z, U is aromatic group) have PPAR agonistic action and are useful for improvement agent for insulin resistance. 
 
     DISCLOSURE OF THE INVENTION  
      Therefore, it is longed that PPAR regulator which is useful for preventing and/or treatment agent for hyperlipidemia etc., has superior oral absorption and is safe is developed.  
      As a result of the present inventors made further investigation to find out the compound which has PPAR regulatory action, they found out that the compound of the invention represented by formula (I) accomplished these purposes and the complete the present invention.  
      The present invention relates to 
      1. A compound represented by formula (I):  
                 
   

      wherein R 1 , R 2 , R 3  and R 4  each independently represents a hydrogen atom, a hydrocarbon group which may have a substituent(s), a halogen atom or a cyclic group which may have a substituent(s);  
      ringA and ringB each independently represents a cyclic group which may have a substituent(s),  
        represents a single bond or a double bond;  
      m and n each independently represents 0 or 1, in which a sum of m and n is 1 or 2,  
      a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof, 
      2. The compound according to the above-mentioned 1, wherein   is a double bond; and m is 1, or a salt thereof, a solvent, or an N-oxide, or a prodrug thereof,     3. The compound according to the above-mentioned 1, wherein at least one substituent among the substituent of ringB is  
                 
   

      wherein r represents an integer of 1 to 6; and Q represents an acidic group,  
      a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof, 
      4. The compound according to the above-mentioned 3, wherein r is an integer of 1 to 4; and Q is carboxyl which may be esterified, a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof,     5. The compound according to the above-mentioned 3, wherein r is 1; and Q is carboxyl, a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof,     6. The compound according to the above-mentioned 1, which is selected from     (1) [3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (2) {2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-thiazol-4-yl}acetic acid,     (3) [2-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (4) [6-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (5) [3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)bipheny-3-yl]acetic acid,     (6) [5-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy) biphenyl-3-yl]aceteic acid,     (7) (3′-{[6-(trifluoromethyl)-1,3-benzothiazol-2-yl]methoxy}biphenyl-3-yl)acetic acid,     (8) [2-chloro-6-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (9) [4-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (10) [2-methyl-3 ′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (11) [2-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1yl}oxy)biphenyl-3-yl]acetic acid, and     (12) [2-fluoro-3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl]prop-2-en-1-yl}oxy)biphenyl-3-yl)acetic acid sodium salt,    

      a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof, 
      7. A pharmaceutical composition comprising the compound according to the above-mentioned 1, a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof,     8. The pharmaceutical composition according to the above-mentioned 7, which is a preventive and/or therapeutic agent for a disease caused by PPAR δ,     9. The pharmaceutical composition according to the above-mentioned 8, wherein the disease caused by PPAR δ is hyperlipidemia or adiposity,     10. A method for prevention and/or treatment for a disease caused by PPAR δ in a mammal, which comprises administering to a mammal an effective amount of a compound represented by formula (I):  
                 
   

      wherein all symbols have the same meanings as defined in the above-mentioned 1, a salts thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof, 
      11. The method for prevention and/or treatment according to the above-mentioned 10, wherein the disease caused by PPAR δ is hyperlipidemia or adiposity,     12. Use of a compound represented by formula (I)  
                 
   

      wherein all symbols have the same meanings as defined in the above-mentioned 1, a salts thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof for preparing a prevention and/or treatment agent for a disease caused by PPAR  67  , 
      13. The use of the compound according to the above-mentioned 12, a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof, wherein the disease caused by PPAR δ is hyperlipidemia or adiposity,     14. A medicine comprising the compound according to the above-mentioned 1, a salt thereof, a solvent thereof or an N-oxide thereof, or a prodrug thereof and one kind or more kinds selected from an anti-adiposity drug, a therapeutic agent for diabetes and a lipid improvement drug, and     15. The medicine according to the above-mentioned 14, wherein the lipid improvement drug is an ACAT inhibitor, an MTP inhibitor, an HMG-CoA reductase inhibitor, a bile acid absorption inhibitor or a cholesterol absorption inhibitor.    

      In the specification, the definition of each group shows as follows  
      Hydrocarbon group in hydrocarbon group which may have a substituent(s) represented by R 1 , R 2 , R 3  and R 4  means, for example, alkyl, alkenyl or alkynyl and so on.  
      Alkyl means straight-chain or branched-chain C1-8 alkyl, for example, methyl, ethyl, n-propyl, isopropyl, n-butyl, isobutyl, sec-butyl, tert-butyl, pentyl, isopentyl, neopentyl, hexyl, heptiyl, octyl and so on.  
      Alkenyl means straight-chain or branched-chain C2-8 alkenyl, for example, ethenyl, propenyl, butenyl, pentenyl, hexenyl, heptenyl, octenyl and so on.  
      Alkynyl means straight-chain or branched-chain C2-8 alkynyl, for example, ethynyl, propynyl, butynyl, pentynyl, hexynyl, heptynyl, octynyl and so on.  
      Substituent in hydrocarbon group which may have a substituent(s) represented by R 1 , R 2 , R 3  and R 4  means, for example, 1-5 group selected from hydroxyl, C1-8 alkoxy, C2-C8 acyl, amino, mono(C1-8 alkyl)amino, di(C1-8 alkyl)amino, C1-8 acyloxy, mercapto, C1-8 alkylthio, halogen atom, (C1-8 alkyl)sulfonyl, (C1-8 alkyl)sulfonylamino, C2-8 acylamino, oxo, cyano, nitro, carbamoyl, acidic group, carbocyclic ring and heterocyclic ring.  
      C1-8 alkoxy in substituent means straight-chain or branched-chain C1-8 alkoxy, for example, methoxy, ethoxy, propoxy, ispropoxy, butoxy, isobutoxy, sec-butoxy, pentyloxy, isopentyloxy, neopentyloxy, hexyloxy, heptyloxy, octyloxy and so on.  
      C2-8 acyl in substituent means, for example, acetyl, propionyl, butyryl, valeryl, hexanoyl, heptanoyl, octanoyl, the isomers thereof and so on.  
      Mono(C1-8 alkyl)amino in substituent means amino substituted with one C1-8 alkyl, for example, methylamino, ethylamino, propylamino, butylamino, pentylamino, hexylamino, heptylamino, octylamino, the isomers thereof and so on.  
      Di(C1-8 alkyl)amino in substituent means amino substituted with two independent C1-8 alkyl, for example, dimethylamino, diethylamino, dipropylamino, dibutylamino, dipentylamino, dihexylamino, diheptylamino, dioctylamino, ethylmethylamino, methylpropylamino, ethylpropylamino, the isomers thereof and so on.  
      C1-8 acyloxy in substituent means, for example, formyloxy, acetyloxy, propionyloxy, butyryloxy, valeryloxy, hexanoyloxy, heptanoyloxy, octanoyloxy, the isomers thereof and so on.  
      C1-8 alkylthio in substituent means, for example, methylthio, ethylthio, propylthio, butylthio, pentylthio, hexylthio, heptylthio, octylthio, the isomers thereof  
      Halogen atom in substituent means fluorine, chlorine, bromine and iodine. (C1-8 alkyl)sulfonyl in substituent means, for example, methylsulfonyl, ethylsulfonyl, propylsulfonyl, butylsulfonyl, pentylsulfonyl, hexylsulfonyl, heptylsulfonyl, octylsulfonyl, and the isomers thereof. (C1-8 alkyl)sulfonylamino in substituent means, for example, methylsulfonylamino, ethylsulfonylamino, propylsulfonylamino, butylsulfonylamino, pentylsulfonylamino, hexylsulfonylamino, heptylsulfonyl amino, octylsulfonyl, and the isomers thereof.  
      C2-8 acylamino in substituent means, for example, acethylamino, propionylamino, butyrylamino, valerylamino, hexanoylamino, heptanoylamino, octanoylamino and the isomers thereof.  
      Acidic group in substituent means, for example, carboxyl which may be esterified (as carboxyl which may be esterified, it is used, for example, one used as synthetic intermediate, pharmaceutically acceptable one, or pharmaceutically acceptable one within an organism for the first time, or one that converts into pharmaceutically one within an organism for the first time and so on. It means, for example, alkyl (C1-6 alkyl e.g., methyl, ethyl, propyl, isopropyl, n-butyl, isobutyl, sec-butyl, tert-butyl, n-pentyl, isopentyl, sec-pentyl, neopentyl, tert-pentyl etc.), benzyl which may have 1-3 substituent(s) selected from nitro and C1-6 alkoxy and so on (e.g., benzyl, nitrobenzyl, methoxybenzyl etc.), phenyl which may have 1-3 substituent(s) selected from nitro and C1-6 alkoxy and so on (e.g., phenyl, nitrophenyl, methoxyphenyl etc.), and so on), sulfo, —SO 2 NHR X  (R X  is hydrogen atom or hydrocarbon which may have a substituent(s)), —NHSO 2 R Y  (R Y  is hydrocarbon which may have a substituent(s)), carbamoyl, phosphono, phenol, cyano, —CONHSO2R Y  (R Y  has the same meaning as defined above) or various Broensted acid such as residue of nitrogen ring having deprotonatable hydrogen atom etc. Broensted acid indicates a substance which gives hydrogen atom to other substance. Residue of nitrogen ring having deprotonatable hydrogen atom means, for example,  
                 
 
 and so on. 
 
      Carbocyclic ring in substituent means, for example, C3-15 mono-, bi-, or tri-aromatic carbocyclic ring which may be partially or fully saturated and so on.  
      C3-15 mono-, bi-, or tri-aromatic carbocyclic ring which may be partially or fully saturated means, for example, cyclopropane, cyclobutane, cyclopentane, cyclohexane, cycloheptane, cyclooctane, cyclononane, cyclodecane, cycloundecane, cyclododecane, cyclotridecane, cyclotetradecane, cyclopentadecane, cyclopentene, cyclohexene, cycloheptene, cyclooctene, cyclopentadiene, cyclohexadiene, cycloheptadiene, cyclooctadiene, benzene, pentalene, perhydropentalene, azulene, perhydroazulene, indene, perhydroindene, indane, naphthalene, dihydronaphthalene, tetrahydronaphthalene, perhydronaphthalene, heptalene, perhydroheptalene, biphenylene, as-indacene, s-indacene, acenaphthylene, acenaphtene, fluorene, phenalene, phenanthrene, anthracene and so on.  
      In addition, C3-15 mono-, bi-, or tri-aromatic carbocyclic ring which may be partially or fully saturated includes spiro-linked bi-carbocyclic ring, and bridged bi-carbocyclic ring, for example, spiro[4.4]nonane, spiro[4.5]decane, spiro[5.5]undecane, bicyclo [2.2.1]heptane, bicyclo[2.2.1]hepta-2-ene, bicyclo[3.1.1]heptane, bicyclo[3.1.1]hepta-2-ene, bicyclo[2.2.2]octane, bicyclo[2.2.2]octa-2-ene, adamantane, noradamantane and so on.  
      Heterocyclic ring in substituent means, for example, 3-15 membered mono-, bi-, or tri-aromatic heterocyclic ring which may be partially or filly saturated containing 1 to 5 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s).  
      3-15 membered mono-, bi-, or tri-aromatic heterocyclic ring containing 1 to 5 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) among 3-15 membered mono-, bi-, or tri-aromatic heterocyclic ring which may be partially or fully saturated containing 1 to 5 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) means, for example, pyrrole, imidazole, triazole, tetrazole, pyrazole, pyridine, pyrazine, pyrimidine, pyridazine, azepine, diazepine, furan, pyran, oxepine, thiophene, thiopyran, thiepine, oxazole, isoxazole, thiazole, isothiazole, furazan, oxadiazole, oxazine, oxadiazine, oxazepine, oxadiazepine, thiadiazole, thiazine, thiadiazine, thiazepine, thiadiazepine, indole, isoindole, indolizine, benzofuran, isobenzofuran, benzothiophene, isobenzothiophene, dithianaphthalene, indazole, quinoline, isoquinoline, quinolizine, purine, phthalazine, pteridine, naphthyridine, quinoxaline, quinazoline, cinnoline, benzoxazole, benzothiazole, benzimidazole, chromene, benzoxepine, benzoxazepine, benzoxadiazepine, benzothiepine, benzothiazepine, benzothiadiazepine, benzazepine, benzodiazepine, benzofurazan, benzothiadiazole, benzotriazole, carbazole, beta-carboline, acridine, phenazine, dibenzofuran, xanthene, dibenzothiophene, phenothiazine, phenoxazine, phenoxathiin, thianthrene, phenanthridine, phenanthroline, perimidine and so on.  
      3-15 membered mono-, bi-, or tri-aromatic heterocyclic ring partially or fully saturated containing 1 to 5 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) among 3-15 membered mono-, bi-, or tri-aromatic heterocyclic ring which may be partially or fully saturated containing 1 to 5 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) means, for example, aziridine, azetidine, pyrroline, pyrrolidine, imidazoline, imidazolidine, triazoline, triazolidine, tetrazoline, tetrazolidine, pyrazoline, pyrazolidine, dihydropyridine, tetrahydropyridine, piperidine, dihydropyrazine, tetrahydropyrazine, piperazine, dihydropyrimidine, tetrahydropyrimidine, perhydropyrimidine, dihydropyridazine, tetrahydropyridazine, perhydropyridazine, dihydroazepine, tetrahydroazepine, perhydroazepine, dihydrodiazepine, tetrahydrodiazepine, perhydrodiazepine, oxirane, oxetane, dihydrofuran, tetrahydrofuran, dihydropyran, tetrahydropyran, dihydrooxepine, tetrahydrooxepine, perhydrooxepine, thiirane, thietane, dihydrothiophene, tetrahydrothiophene, dihydrothiopyran, tetrahydrothiopyran, dihydrothiepine, tetrahydrothiepine, perhydrothiepine, dihydrooxazole, tetrahydrooxazole (oxazolidine), dihydroisoxazole, tetrahydroisoxazole (isoxazolidine), dihydrothiazole, tetrahydrothiazole (thiazolidine), dihydroisothiazole, tetrahydroisothiazole (isothiazolidine), dihydrofurazan, tetrahydrofurazan, dihydrooxadiazole, tetrahydrooxadiazole (oxadiazolidine), dihydrooxazine, tetrahydrooxazine, dihydrooxadiazine, tetrahydrooxadiazine, dihydrooxazepine, tetrahydrooxazepine, perhydrooxazepine, dihydrooxadiazepine, tetrahydrooxadiazepine, perhydrooxadiazepine, dihydrothiadiazole, tetrahydrothiadiazole (thiadiazolidine), dihydrothiazine, tetrahydrothiazine, dihydrothiadiazine, tetrahydrothiadiazine, dihydrothiazepine, tetrahydrothiazepine, perhydrothiazepine, dihydrothiadiazepine, tetrahydrothiadiazepine, perhydrothiadiazepine, morpholine, thiomorpholine, oxathiane, indoline, isoindoline, dihydrobenzofuran, perhydrobenzofuran, dihydroisobenzofuran, perhydroisobenzofuran, dihydrobenzothiophene, perhydrobenzothiophene, dihydroisobenzothiophene, perhydroisobenzothiophene, dihydroindazole, perhydroindazole, dihydroquinoline, tetrahydroquinoline, perhydroquinoline, dihydroisoquinoline, tetrahydroisoquinoline, perhydroisoquinoline, dihydrophthalazine, tetrahydrophthalazine, perhydrophthalazine, dihydronaphthyridine, tetrahydronaphthyridine, perhydronaphthyridine, dihydroquinoxaline, tetrahydroquinoxaline, perhydroquinoxaline, dihydroquinazoline, tetrahydroquinazoline, perhydroquinazoline, dihydrocinnoline, tetrahydrocinnoline, perhydrocinnoline, benzoxathiane, dihydrobenzoxazine, dihydrobenzothiazine, pyrazinomorpholine, dihydrobenzoxazole, perhydrobenzoxazole, dihydrobenzothiazole, perhydrobenzothiazole, dihydrobenzimidazole, perhydrobenzimidazole, dihydrobenzazepine, tetrahydrobenzazepine, dihydrobenzodiazepine, tetrahydrobenzodiazepine, benzodioxepane, dihydrobenzoxazepine, tetrahydrobenzoxazepine, dihydrocarbazole, tetrahydrocarbazole, perhydrocarbazole, dihydroacridine, tetrahydroacridine, perhydroacridine, dihydrodibenzofuran, dihydrodibenzothiophene, tetrahydrodibenzofuran, tetrahydrodibenzothiophene, perhydrodibenzofuran, perhydrodibenzothiophene, dioxolane, dioxane, dithiolane, dithiane, dioxaindan, benzodioxane, chroman, benzodithiolane, benzodithiane and so on.  
      Halogen atom represented by R 1 , R 2 , R 3  and R 4  means, for example, fluorine, chlorine, bromine and iodine.  
      Cyclic ring in cyclic ring which may have a substituent(s) represented by R 1 , R2, R 3 , R4, ringA and ringB means carbocyclic ring and heterocyclic ring in substituent of the above-mentioned hydrocarbon group which may have a substituent(s).  
      In the specification, substituent in cyclic ring which may have a substituent(s) represented by R 1 , R 2 , R 3 , R 4 , ringA and ringB means, for example, (1) hydrocarbon which may have a substituent(s), (2) hydroxyl, (3) alkoxy which may have a substituent(s), (4) mercapto, (5) alkylthio which may have a substituent(s), (6) amino which may have a substituent(s), (7) halogen atom (e.g., fluorine, chlorine, bromine, iodine) (8) cyano, (9) nitro, (10) acidic group, (11) carbocyclic ring which may have a substituent(s), (12) heterocyclic ring which may have a substituent(s) and so on. These optional substituents may be substituted 1-5 at the replaceable position.  
      Hydrocarbon in (1) hydrocarbon which may have a substituent(s) as substituent means, for example, alkyl, alkenyl, alkynyl (alkyl, alkenyl, alkynyl have the same meanings as defined above) and so on. Here, substituent of hydrocarbon means hydroxyl, amino, carboxyl which may be esterified (carboxyl which may be esterified has the same meaning as defined above), nitro, mono- or di-C1-6 alkylamino (e.g., methylamino, ethylamino, propylamino, dimethylamino, diethylamino etc.), C1-6 alkoxy (e.g., methoxy, ethoxy, propoxy, hexyloxy etc.), C1-6 alkylcarbonyloxy (e.g., acetoxy, ethylcarbonyloxy etc.), halogen atom (e.g., fluorine, chlorine, bromine, iodine) and so on. These optional substituents may be substituted 1-4 at the replaceable position.  
      (3) Alkoxy which may have a substituent(s) as substituent has the same meaning as defined above C1-8 alkoxy. Here, substituent of alkoxy has the same meaning as defined above (1) hydrocarbon which may have a substituent(s).  
      Alkylthio in (5) alkylthio which may have a substituent(s) as substituent means straight-chain or branched-chain C1-8 alkyltho, for example, methylthio, ethylthio, propylthio, isopropylthio, butylthio, isobutylthio, sec-butylthio, pentylthio, isopentylthio, neopentylthio, hexylthio, heptylthio, octylthio and so on. Here, substituent of alkylthio has the same meaning as defined above hydrocarbon which may have a substituent(s).  
      Substituent in (6) amino which may have a substituent(s) as substituent means, for example, alkyl (straight-chain or branched-chain C1-4 alkyl, e.g., methyl, ethyl, n-propyl, isopropyl, n-butyl, isobutyl, sec-butyl, tert-butyl etc.), aryl (e.g., phenyl, 4-methylphenyl etc.), aralkyl (e.g., benzyl, phenethyl etc.), acyl (e.g., C1-6 alkanoyl (e.g., formyl, acetyl, propanoyl, pivaloyl etc.), arylcarbonyl (e.g., benzoyl etc.) etc.), alkoxycarbonyl (e.g., t-butoxycarbonyl etc.), aralkyloxycarbonyl (e.g., benzyloxycarbonyl etc.) and so on. In addition, two substituents of amino may be taken together to form cyclic amino (e.g., aziridine, azetidine, pyrrolidine, piperidine, piperazine which may be substituted with lower alkyl (e.g., methyl, ethyl, propyl, butyl etc.), azepane, morpholine etc.).  
      (10) acidic group as substituent has the same meaning as that of acidic group represented by substituent in hydrocarbon which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3 , R 4 , ringA and ringB.  
      Carbocyclic ring in (11) carbocyclic ring which may have a substituent(s) as substituent has the same meaning as that of carbocyclic ring represented by substituent in hydrocarbon which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3 , R 4 , ringA and ringB.  
      Hererocyclic ring in (12) heterocyclic ring which may have a substituent(s) as substituent has the same meaning as that of heterocyclic ring represented by substituent in cyclic ring which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3 , R 4 , ringA and ringB.  
      Substituent of said carbocyclic ring and heterocyclic ring means, for example, hydrocarbon which may have a substituent(s), hydroxyl, alkoxy which may have a substituent(s), mercapto, alkylthio which may have a substituent(s), amino which may have a substituent(s), halogen atom (e.g., fluorine, chlorine, bromine, iodine), cyano, nitro, carboxyl which may be esterified, carbocyclic ring, heterocyclic ring and so on. These optional substituents may be substituted 1-4 at the replaceable position.  
      Here, hydrocarbon which may have a substituent(s) has the same meaning as that of hydrocarbon which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3  and R 4 .  
      Alkoxy which may have a substituent(s), alkylthio which may have a substituent(s), amino which may have a substituent(s), carboxyl which may be esterified, carbocyclic ring and heterocyclic ring have the same meanings as that of hydrocarbon which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3 , R 4 , ringA and ringB.  
      Hydrocarbon which may have a substituent(s) represented by R X  and R Y  has the same meaning as that of hydrocarbon which may have a substituent(s) represented by the above-mentioned R 1 , R 2 , R 3  and R 4 .  
      As carbocyclic ring represented by ringA, C5-10 mono- or bi-aromatic carbocyclic ring which may be partially or fully saturated and may have a substituent(s) is preferred. C5-10 mono-aromatic carbocyclic ring which may have a substituent(s) is more preferred. Benzene which may have a substituent(s) is particular preferred.  
      As heterocyclic ring represented by ringA, 5-10 membered mono- or bi-aromatic heterocyclic ring whcih may be partially or fully saturated containing 1 to 3 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) and may have a substituent(s) is preferred. 1,3-Oxazol, 1,3-thiazol, piperidine, pyridine, 1,3-benzothiazol and 1,3-benzodioxol which may have a substituent(s) are more preferred.  
      As substituent of ringA, hydrocarbon, halogen atom, trihalomethyl, trihalomethyloxy, trihalomethylthio, carbocyclic ring which may have a substituent(s), heterocyclic ring which may have a substituent(s) are preferred. Fluorine, trifluoromethyl, trifluoromethyloxy, trifluoromethylthio, phenyl which may have a substituent(s), pyridyl, morpholino, thiomorpholino, piperidino, piperazino are more preferred.  
      As ringB, C5-10 mono- or bi-aromatic carbocyclic ring which may be partially or fully saturated and may have a substituent(s) is preferred. C5-10 mono-aromatic carbocyclic ring which may be partially or fully saturated and may have a substituent(s) is more preferred. Benzene which may have a substituent(s) is particular preferred.  
      As substituent of ringB, 1-2 substituent(s) selected from halogen atom, hydroxyl, alkoxy which may have a substituent(s), carbocyclic ring which may have a substituent(s), or heterocyclic ring which may have a substituent(s) is(are) preferred. Carbocyclic ring which may have a substituent(s), or heterocyclic ring which may have a substituent(s) is more preferred.  
      As carbocyclic ring in carbocyclic ring which may have a substituent(s) of substituent of ringB, C5-10 mono- or bi-aromatic carbocyclic ring which may be partially or fully saturated and may have a substituent(s) is preferred. C5-10 mono-aromatic carbocyclic ring which may have a substituent(s) is more preferred. Benzene which may have a substituent(s) is particular preferred.  
      As heterocyclic ring in heterocyclic ring which may have a substituent(s) of substituent of ringB, 5-10 membered mono- or bi-heterocyclic ring which may be partially or fully saturated containing 1 to 3 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) and may have a substituent(s) is preferred. 5-10 membered mono-heterocyclic ring which may be partially or fully saturated containing 1 to 2 hetero atom(s) selected from oxygen, nitrogen and sulfur atom(s) and may have a substituent(s) is more preferred. Thiophen, pyridine, furan, thiazol, oxazol which may have a substituent(s) is particularly preferred. Here, as substituent in carbocyclic ring which may have a substituent(s) and heterocyclic ring which may have a substituent(s) of substituent of ringB, 1-3 substituent(s) selected from alkyl which may have a substituent(s), alkoxy which may have a substituent(s), halogen atom and acidic group is (are) preferred. Acidic group and alkyl which may have a substituent(s) are more preferred. Here, as alkyl which may have a substituent(s), methyl, ethyl or propyl substituted with acidic acid is preferred. Methyl substituted with methyl is more preferred. As acidic group, carboxyl which may be esterified is preferred. As carboxyl which may be esterified, carboxyl is preferred.  
      As at least one substituent among substituents of ringB,  
                 
 
 (wherein r is an integer of 1-6, Q is acidic group) is preferred. Among these, as r, an integer of 1 to 4 is preferred. An integer of 1 or 2 is more preferred. 1 is particularly preferred. As Q, carboxyl which may be esterified is preferred. Carboxyl is more preferred. 
 
      As m and n, m is 1 and n is 1, or m is 0 and n is 1 that is preferred. m is 1 and n is 1 that is more preferred.  
      As   double bond is preferred.  
      Any compounds of the invention are preferred.  
      As the compound of the invention, the compound represented by formula (I-A)  
                 
 
 (wherein G is substituent of ringB, y is 0 or an integer of 1 to 4, T has the same meaning as that of substituent in cyclic group of substituent of ringB, U is substituent of ringA, v is 0 or an integer of 1 to 5, w is 0 or an integer of 1 to 4, the other symbols have the same meanings as defined above), or the salt thereof, or the compound represented by formula (I-B)  
                 
 
 or the salt thereof is particularly preferred. 
 
      Among the compounds represented by formula (I-A) and formula (I-B),  
                 
 
 locates to 3-position in its binding benzene that is preferred. 
 
      Additionally, as concretely preferable compounds, they include 
      (1) [3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (2) {2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-thiazol-4-yl}acetic acid,     (3) [2-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (4) [6-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1yl}oxy)biphenyl-3-yl]acetic acid,     (5) [3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (6) [5-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (7) (3′-{[6-(trifluoromethyl)-1,3-benzothiazol-2-yl]methoxy}biphenyl-3-yl)acetic acid,     (8) [2-chloro-6-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (9) [4-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (10) [2-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid,     (11) [2-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1yl}oxy)bidhenyl-3-yl]acetic acid, and     (12) [2-fluoro-3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl]prop-2-en-1-yl}oxy)biphenyl-3-yl)acetic acid sodium salt.    

      Unless otherwise specified, all isomers are included in the present invention. For example, alkyl, alkenyl, alkynyl, alkoxy, alkylthio, alkylene alkenylene and alkynylene group means straight-chain or branched-chain ones. In addition, isomers on double bond, ring, fused ring (E-, Z-, cis-, trans-isomer), isomers generated from asymmetric carbon atom(s) (R-, S-isomer, α, β-configuration, enantiomer, diastereomer), optically active isomers (D-, L-, d-, l-isomer), polar compounds generated by chromatographic separation (more polar compound, less polar compound), equilibrium compounds, rotational isomers, mixtures thereof at voluntary ratios and racemic mixtures are also included in the present invention.  
      In the present invention, unless otherwise specified, the symbol   means that the α-configuration substituent, the symbol   means that the β-configuration substituent, the symbol   means α-configuration, β-configuration or a voluntary mixture of α-configuration and β-configuration, and the symbol   means that there is a voluntary mixture of α-configuration and β-configuration as would be clear to the person skilled in the art.  
      Salt, N-oxide and Solvent:  
      The salts of the compounds represented by formula (I) include all of pharmaceutically acceptable ones. As pharmaceutically salts, non-toxic, water-soluble salts are preferred. The suitable salts include for example, salts of alkali metals (e.g., potassium, sodium, lithium, etc.), salts of alkaline earth metals (e.g., calcium, magnesium, etc.), ammonium salts (e.g., tetramethylammonium salt, tetrabutylammonium salt, etc.), pharmaceutical acceptable salts of organic amine (e.g., triethylamine, methylamine, dimethylamine, cyclopentylamine, benzylamine, phenethylamine, piperidine, monoethanolamine, diethanolamine, tris(hydroxymethyl)methylamine, lysine, arginine, N-methyl-D-glucamine, etc.), acid addition salts (salts of inorganic acids (e.g., hydrochloride, hydrobromide, hydroiodide, sulfate, phosphate, nitrate etc.), and salts of organic acids (e.g., acetate, trifluoroacetate, lactate, tartrate, oxalate, fumarate, maleate, benzoate, citrate, methanesulfonate, ethanesulfonate, benzenesulfonate, toluenesulfonate, isethionate, glucuronate, gluconate etc.) In addition, N-oxide means nitrogen atom of the compound represented by formula (I) is oxidized. The compound of the invention may be converted into N-oxide by voluntary methods. The salts and N-oxide of the compound of the invention include solvent, or the above-mentioned solvents of salts of alkali (earth) metals, ammonium salts, salts of organic amine and acid addition salts of the compound of the invention. The suitable solvates include for example, hydrates, solvates of the alcohols (e.g., ethanol etc.), and so on. The compound of the invention is converted into pharmaceutically acceptable salt by known methods.  
      Prodrug:  
      Additionally, the prodrug of the compounds represented by formula (I) means a compound is the compound represented by formula (I) by reaction with enzymes, gastric acids and so on within an organism. The prodrug of the compounds represented by formula (I) include, when the compounds represented by formula (I) have amino, the prodrug is the compounds the amino of which is acylated, alkylated, phosphorylated (e.g., the compounds are that the amino of the compounds represented by formula (I) is eicosanoated, alanylated, pentylaminocarbonylated, (5-methyl-2-oxo-1,3-dioxolan-4-yl)methoxycarbonylated, tetrahydrofuranated, pyrrolidylmethylated, pivaloyloxymethylated, acetoxymethylated, tert-butylated, etc.); when the compounds represented by formula (I) have hydroxyl, the prodrug is the compounds the hydroxyl of which are acylated, alkylated, phosphorylated, borated (e.g., the compounds are that the hydroxyl of the compounds represented by formula (I) are acetylated, palmitoylated, propanoylated, pivaloylated, succinylated, fumarylated, alanylated, dimethylaminomethylcarbonylated etc.); when the compounds represented by formula (I) have carboxyl, the prodrug is the compound the carboxyl of which are esterified, amidated (e.g., the compounds are that the carboxyl of the compounds represented by formula (I) is ethylesterified, isopropylesterified, phenylesterified, carboxymethylesterified, dimethylaminomethylesterified, pivaloyloxymethylesterified, ethoxycarbonyloxyethylesterified, phthalidylesterified, (5-methyl-2-oxo-1,3-dioxolen-4-yl)methylesterified, cyclohexyloxycarbonylethylesterified, methylamidated etc.); and so on. In addition, the prodrug of the compound represented by formula (I) may be either hydrate or non-hydrate.  
      In the present invention, PPAR regulator includes all regulators of PPAR α regulator, PPAR γ regulator, PPAR δ regulator, PPAR α+γ regulator, PPAR α+δ regulator, PPAR γ+δ regulator, PPAR α+γ+δ regulator. In addition, as regulatory fashion of the invention, PPAR δ regulator, or PPAR δ+α regulator is preferred.  
      Additionally, PPAR regulator of the invention includes PPAR αagonist and PPAR antagonist. PPAR agonist is preferred. PPAR δ agonist or PPAR δ+α regulator is more preferred.  
      Processes for the Preparation of the Compound of the Present Invention:  
      The compound of the present invention represented by formula (I) can be prepared by combining the known processes, for example, the following processes, or the processes shown in Examples, which is the properly improved processes described in  Comprehensive Organic Transformations : A Guide to Functional Group Preparations,  2nd Edition, Richard C. Larock, Wiley &amp; Sons Inc, 1999 and so on, Still, ingredients may be used as salts in the following each processes for the preparation. As these salts, the salts described as the pharmaceutically acceptable ones in the above-mentioned formula (I) are used.  
      The compound represented by formula (I) can be prepared by reacting a compound represented by formula (II)  
                 
 
 (wherein R 5  is a leaving group (halogen atom (e.g., fluorine, chlorine, bromine, iodine), mesyloxy, tosyloxy, etc.), ringA′ has the same meaning as that of ringA, but carboxyl, hydroxyl amino and mercapto included the group represented by ringA′ are, if necessary, followed by subjecting to a deprotection reaction of the protective group. The other symbols have the same meanings as defined above) with a compound represented by formula (III)  
                 
 
 (wherein ringB′ has the same meaning as that of ringB, but carboxyl, hydroxyl, amino and mercapto included the group represented by ringB′ are, if necessary, followed by subjecting to a deprotection reaction of the protective group), if necessary, followed by subjecting to a deprotection reaction of the protective group. 
 
      The above-mentioned reaction is known. It is carried out, for example, in an organic solvent (e.g., tetrahydrofuran (THF), diethylether, methylene chloride, chloroform, carbon tetrachloride, pentane, hexane, benzene, toluene, N,N-dimetylformamide (DMF), dimethylsulfoxide (DMSO), hexamethylphosphoramide (HMPF), acetonitrile, etc.) in the presence of a base (e.g., sodium hydroxide, potassium carbonate, triethylamine, pyridine, sodium iodide, cesium carbonate, etc.) at a temperature of 0 to 100° C.  
      The deprotection reaction of the protective group may be carried out by following method.  
      The deprotection reaction of a protective group for carboxyl, hydroxyl, amino, or mercapto is known, and it includes; 
      (1) alkaline hydrosis,     (2) deprotection reaction under acidic conditions,     (3) deprotection reaction by hydrogenolysis,     (4) deprotection reaction of a silyl group,     (5) deprotection reaction using metals,     (6) deprotection reaction using metal complexes, and so on.    

      These methods are described concretely as follows. 
      (1) The deprotection reaction by alkaline hydrolysis is, for example, carried out in an organic solvent (e.g., methanol, tetrahydrofuran, or dioxane etc.) using a hydroxide of an alkali metal (e.g., sodium hydroxide, potassium hydroxide, or lithium hydroxide etc.), a hydroxide alkaline earth metal (e.g., barium hydroxide, or calcium hydroxide etc.), or a carbonate (e.g., sodium carbonate or potassium carbonate, etc.), or an aqueous solution thereof, or a mixture thereof at a temperature of 0 to 40° C.     (2) The deprotection reaction under acidic conditions is carried out, for example, in an organic solvent (e.g., dichloromethane, chloroform, dioxane, ethyl acetate, or anisole etc.) in an organic acid (e.g., acetic acid, trifluoroacetic acid, methansulfonic acid, or p-tosylate, etc.), or an inorganic acid (e.g., hydrochloric acid, or sulfuric acid, etc.) or a mixture thereof (e.g., hydrogen bormide/acetic acid, etc.) at a temperature of 0 to 100° C.     (3) The deprotection reaction by hydrogenolysis is carried out, for example, in a solvent (e.g., ethers (e.g., tetrahydrofuran, dioxane, dimethoxyethane (DME), or diethylether, etc.), alcohols (e.g., methanol, or ethanol, etc.), benzenes (e.g, benzene, or toluene etc.), ketones (e.g., acetone, or methylethylketone, etc.), nitriles (e.g., actetonitrile etc.), amides (e.g., DMF etc.), water, ethyl acetate, acetic acid, or a mixed solvent of at least two of these etc.) in the presence of a catalyst (e.g., palladium-carbon, palladium black, palladium hydroxide-carbon, platinum oxide, or Raney nickel, etc.) under the hydrogen atmosphere at normal pressure or under pressurization, or in the presence of ammonium formate at a temperature of 0 to 200° C.     (4) The deprotection reaction of a silyl group is carried out, for example, in a water-miscible organic solvent (e.g., tetrahydrofuran, or acetonitrile, etc.) using tetrabutylammonium fluoride at a temperature of 0 to 40° C.     (5) The deprotection reaction using metals is carried out, for example, in an acidic solvent (e.g., acetic acid, pH4.2-7.2 buffer solution, or a mixture of a solution thereof and an organic solvent of tetrahydrofran etc.) in the presence of zinc powder, if necessary sonicating, at the temperature of 0 to 40° C.     (6) The deprotection reaction using metal complexes is carried out, for example, in an organic solvent (e.g., dichloromethane, DMF, THF, ethyl acetate, acetonitrile, dioxane, ethanol etc.), water, or a mixture thereof, in the presence of a trap reagent (e.g., tributyltine hydride, triethylsilane, dimedone, morpholine, diethylamine, pyrrolidine, etc.), an organic acid (e.g., acetic acid, formic acid, 2-ethyl hexanoic acid, etc.) and/or salts of organic acid (e.g., sodium 2-ethylhexanoate, potassium 2-ethylhexanoate etc.), in the presence or absence of a phosphine reagent (e.g., triphenylphosphine etc.), using metal complexes (e.g., tetrakistriphenylphosphinepalladium(0), dichlorobis(triphenylphosphine)palladium(II), palladium acetate(II), tris(triphenylphosphine)rhodium(I) chloride etc.) at the temperature of 0 to 40° C.    

      In addition, the deprotection reaction except the above-mentioned processes can be carried out, for example, by the process described in T. W. Greene, Protective Groups in Organic Synthesis, Wiley, New York, 1999. As is easily understood by those skilled in the art, the intended compounds of the invention may be readily prepared through selective use of these deprotecting reaction.  
      The protection group for carboxyl includes, for example, methyl, ethyl, allyl, t-butyl, trichloroethyl, benzyl (Bn), phenacyl, and so on.  
      The protection group for hydroxyl includes, for example, methyl, trytyl, methoxymethyl (MOM), 1-ethoxyethyl (EE), methoxyethoxymethyl (MEM), 2-tetrahydropyranyl(THP), trimethylsyryl (TMS), triethylsyryl (TES), t-butyldimethylsyryl (TBDMS), t-butyldiphenylsyryl (TBDPS), acetyl (Ac), pivaloyl, benzoyl, benzyl (Bn), p-methoxybenzyl, allyloxycarbonyl (Alloc), 2,2,2-trichloroethoxycarbonyl (Troc), and so on.  
      The protection group of amino includes benzyloxycarbonyl, t-butoxycarbonyl, allyloxycarbonyl (Alloc), 1-methyl-1-(4-biphenyl) ethoxycarbonyl (Bpoc), trifluoroacetyl, 9-fluorenylmethoxycarbonyl, benzyl (Bn), p-methoxybenzyl, benzyloxymethyl (BOM), 2-(trimethylsyryl) ethoxymethyl (SEM) and so on.  
      The protection group of mercapto includes, for example, benzyl, methoxybenzyl, methoxymethyl (MOM), 2-tetrahydropyranyl (THP), diphenylmethyl, acetyl (Ac) and so on.  
      The protective group for carboxyl, hydroxyl, amino or mercapto is not particularly limited to the above mentioned groups, so long as it can be easily and selectively left. For example, those described in T. W. Greene, Protective Groups in Organic Synthesis, Wiley, New York, 1999 can be used.  
      In addition, the compound represented by formula (I) can be prepared by reacting a compound represented by formula (IV)  
                 
 
 (wherein all symbols have the same meanings as defined above) with the above-mentioned compound represented by formula (III), if necessary, followed by subjecting to a deprotection reaction of the protective group. 
 
      The above-mentioned reaction is known. It is carried out, for example, by reacting with a corresponding alcohol compound in an organic solvent (e.g., methylene chloride, diethylether, THF, acetonitrile, benzene, toluene, etc.) in the presence of an azo-compound (e.g., diethyl azodicarboxylate, diisopropyl azodicarboxylate, 1,1′-(azodicarbonyl)dipiperidine, 1,1′-azobis(N,N-dimethylformamide), etc.) and a phosphine-compound (e.g., triphenylphosphine, tributylphosphine, trimethylphosphine, etc.) at a temperature of 0 to 60° C.  
      The deprotection reaction of the protective group may be carried out by the above-mentioned similar method.  
      Among the compounds represented by formula (I), a compound in which   represents a single bond, i.e. the compound represented by formula (IA)  
                 
 
 (wherein all symbols have the same meanings as defined in the above-mentioned) can be prepared by reductive reacting with a compound represented by formula (V)  
                 
 
 (wherein all symbols have the same meanings as defined above). 
 
      The above-mentioned reductive reaction is known. It is carried out, for example, in a solvent (ethers (e.g., THF, dioxane, DME, diethylether, etc.), alcohols (e.g., methanol, ethanol, etc.), benzenes (e.g., benzene, toluene, etc.), ketones (e.g., acetone, methylethylketone, etc.), nitrites (e.g., acetonitrile, etc.), amides (e.g., DMF, etc.), water, ethyl acetate, acetic acid or 2 more mixed solution thereof etc.) in the presence of a catalyst (e.g., palladium-carbon, palladium black, palladium hydroxide, platinum oxide, or Raney nickel, etc.), under the hydrogen atmosphere at normal pressure or under pressurization, or in the presence of ammonium formate at a temperature of 0 to 200° C.  
      The compounds represented by formula (II), (III), and (IV) used in the present invention are known in themselves, or can be easily prepared by known method, or according to method described in Examples.  
      For example, among the compounds represented by formula (IV), 2-(5-methyl-2-phenyloxazol-4-yl) ethanol can be prepared according to the method described in  J Med. Chem.,  35, 1853-1864 (1992).  
      In each reaction in the present specification, reaction products may be purified in an ordinary manner, for example, through normal-pressure or reduced-pressure distillation, or through high-performance liquid chromatography with silica gel or magnesium silicate, thin-layer chromatography, or column chromatography, or through washing or recrystallization and so on. The purification may be effected in each reaction stage or after some reaction stages.  
      Pharmacological Activity:  
      As pharmacological test other than ones described in Example, particularly in vivo measurement using animals, for example, there are methods as follows. The hypoglycemic effect and hypolipidemic effect of the compound of the invention can be measured by methods as follows.  
      Hypoglycemic and Hypolipidemic Effects:  
      Male, 8-weeks old KKAy/Ta Jcl mice (five mice per group) are pre-breaded individually in single cages for approximately one week and provided pellet diet and tap water from bottle of feed water ad libitum. Mice are acclimatized to switch over to milled diet for three days. On the first day of the experiment (Day 0), the body weight of mice are measured. Blood samples are collected from coccygeal vein using a microcapillary to measure plasma glucose concentration. Based on plasma glucose concentration, mice are divided into some groups (five mice per group) using a stratified randomization method. The body weight of mice are measured on the morning of the next day, and from the next day for six days they are given compounds by food mixture containing 0.03% (w/w), 0.01% (w/w) or 0.003% (w/w) of the compound of the present invention or by milled diet only. On the morning of the fourth and the seventh day, body weights and food intakes of them are determined to calculate the mean administered dose. On the morning of the sixth day, blood samples were collected from coccygeal vein to measure glucose and triglyceride (TG) levels. On the seventh day after measuring body weight, blood samples are collected from abdominal vena cava under anesthetized condition by ether to determine plasma insulin, non-esterified fatty acid (NEFA), GOT and GPT levels using commercially available kits. And, the liver is removed and wet weight of the liver is measured. The total RNAs are prepared from left lobe of the liver and measured a gene expression level of bifunctional enzyme by Northern blot method. Actually, there is no significant difference in the food intake between control group (milled diet only) and compounds-treated group (milled diet containing 0.03%, 0.01% or 0.003% of compounds). The calculated dose is approximately 40 mg/kg/day in the group given diet containing 0.03% of the compound.  
      It is suggested the possibility as an agent for preventing and/or treating of diabetes mellitus, hyperlipidemia, atherosclerosis etc., from ameliorating effects of plasma glucose, plasma insulin, NEFA or TG levels in well-fed KKAy/Ta mice. This effect is likely to be mediated through PPAR γ activation in vivo. Additionally, it is likely that an increase in liver weight and in an expression amount of liver bifunctional enzyme reflects on PPAR α activation in vivo.  
      Hypoglycemic and Hypolipidemic Effects:  
      Male, 8-weeks old Zucker fa/fa rats (Strain: Crj-[ZUC]-fa/fa) and healthy Zucker lean rats (Strain: Crj-[ZUC]-lean) to be purchased are pre-breaded individually in single cages for approximately two weeks and provided pellet diet and tap water from automatic water supplying equipment ad libitum. For five days before the treatment, rats are acclimatized to oral gavage administration. During this period, a general condition of them is observed, and healthy rats with 10-weeks of age are used for experiment. The body weight of each rats are measured on the morning of the first day of experiment (Day 0) and blood samples are collected from coccygeal vein using a microcapillary to measure plasma glucose, TG, NEFA concentrations and HbA1c. Based on the HbA1c and body weight, rats are assigned to groups comprised of five animals each using a stratified randomization method. Additionally, rats are interchanged optionally to prevent the deflection of other parameters&#39;averages between groups. The body weight of each animal was measured every morning from the day after grouping. Volumes to be administered are calculated on the basis of body weight measured on the day of administration, and oral gavage administration of compound of the present invention or vehicle only (0.5% methylcellulose) is conducted once a day for 13 days. The healthy animals (lean rats) are given vehicle only.  
      Food consumption is measured on the morning of Day 1, 4, 7, 10 and 13 to calculate mean food intakes. On the seventh day, blood samples are corrected from coccygeal vein using microcapillary to measure plasma glucose, TG, NEFA concentrations and HbA1c. And on the 14th day, oral glucose tolerance test (OGTT) is performed to evaluate improving effect on glucose intolerance. Rats are fasted on the previous day (Day 13) to perform OGTT. After blood samples are collected on the next day (Day 14), 40% glucose solution is loaded at a volume of 2 g/5 ml/kg per oral administration. 60 and 120 minutes after loading, blood samples are collected from coccygeal vein using microcapillary to determine plasma glucose levels.  
      Animals are given food after the OGTT and administered compound of the present invention on Day 15. On the morning of the 16th day after measuring body weight, blood samples are collected from abdominal vena cava under anesthetized condition by ether to determine plasma glucose, plasma insulin, TG, NEFA, GOT and GPT levels. And, the liver is removed and weighed.  
      It is suggested the possibility as an agent for preventing and/or treating of diabetes mellitus, hyperlipidemia, atherosclerosis etc., from ameliorating effects of plasma glucose, plasma insulin, TG, NEFA levels or HbA1c in well-fed Zucker fa/fa rats. Also, a decrease effect of fasting plasma glucose and improving effect of glucose intolerance during OGTT suggest the possibility as an agent for preventing and/or treating of diabetes mellitus. These effects are likely to be mediated through PPAR γ activation in vivo. Additionally, it is suggested that an increase in liver weight depends on PPAR α activation in vivo.  
      Toxicity:  
      Toxicity of the compound represented by formula (I) is very low, and it is safe enough to use as a pharmaceutical agent.  
     INDUSTRIAL APPLICABILITY  
      Application to pharmaceutical preparations:  
      Since the compound represented by formula (I) of the present invention and nontoxic salt thereof have a PPAR modulating activity, it is expected to be applied as hypoglycemic agents, hypolipidemic agents, agents for preventing and/or treating of diseases associated with metabolic disorders such as diabetes, obesity, metabolic syndrome, hypercholesterolemia and hyperlipoproteinemia etc., hyperlipidemia, atherosclerosis, hypertension, circulatory diseases, overeating, ischemic heart diseases etc., HDL cholesterol-elevating agents, LDL cholesterol and/or VLDL cholesterol-lowering agents and agents for relieving risk factors of diabetes or metabolic syndrome.  
      Also, since the compound represented by formula (I) of the present invention, and the salts thereof, have particularly a PPAR δ agonist effect, it is expected to be useful as HDL cholesterol-elevating agent, inhibitory agent of progress of and therapeutic agent for atherosclerosis, hypolipidemic agent, hypoglycemic agent, therapeutic agent for hyperlipidemia, or therapeutic agent for diabetes. In addition, it is expected to be useful for relieving risk factors of metabolic syndrome or preventing onset of ischemic heart diseases.  
      The compound represented by formula (I) or the salts thereof may be administered in combination with other drugs for the purpose of 
      1) complement and/or enhancement of preventing and/or treating effect,     2) improvement of dynamics and absorption of the compound, and lowering of dose, and/or     3). alleviation of side effect of the compound.    

      The compound represented by formula (I) or the salts thereof and other pharmaceutical preparations may be administered in the form of formulation having these components incorporated in one preparation or may be administered in separate preparations. In the case where these pharmaceutical preparations are administered in separate preparations, they may be administered simultaneously or at different times. In the latter case, the compound represented by formula (I) or the salts thereof may be administered before the other pharmaceutical preparations. Alternatively, the other pharmaceutical preparations may be administered before the compound represented by formula (I) or the salts thereof The method for the administration of these pharmaceutical preparations may be the same or different.  
      The diseases on which the preventive and/or treatment effect of the above-mentioned combined preparations works are not specifically limited but may be those for which the preventive and/or treatment effect of the compound represented by formula (I) is compensated for and/or enhanced.  
      As other drugs to compensate and/or enhance for hypolipidemic effect of the compound represented by formula (I) or the salts thereof, i.e. lipid improvement agents, they include, for example, MTP (Microsomal Triglyceride Transfer Protein) inhibitor, HMG-CoA reductase inhibitor, squalene synthase inhibitor, fibrate (fibric acid derivative), ACAT (acyl CoA: Cholesterol O-acyltransferase) inhibitor, 5-lipoxygenase inhibitor, cholesterol absorption inhibitor, bile acid absorption inhibitor, ileal Na+/bile acid transporter (IBAT) inhibitor, LDL receptor activator/expression enhancer, lipase inhibitor, probucol formulation, nicotine acid formulation, other anti-hypercholesterolemia therapeutic agent and so on.  
      Examples of MTP inhibitor include BMS-201038, BMS-212122, BMS-200150, GW-328713, R-103757, and so on. Examples of HMG-CoA reductase inhibitor include atorvastatin, fulvastatin, lovastatin, pitavastatin, pravastatin, rosuvastatin, simvastatin, and so on. Examples of ACAT inhibitor include F-12511, F-1394, CI-1011, melinamide and so on. Examples of squalene synthase inhibitor include TAK-475 and so on. Examples of fibrate include gemfibrozil, clofibrate, bezafibrate, fenofibrate, and so on. Examples of ACAT inhibitor include Cl-1101, FCE27677, RP73163, and so on. Examples of cholesterol absorption inhibitor include SCH48461 and so on. Examples of bile acid absorption inhibitor include cholestyramine, colesevelam, and so on. Examples of LDL receptor activator/expression enhancer include MD-700, LY295427, and so on. Examples of lipase inhibitor include orlistat and so on. It is known that there are sometimes associated with rhabdomyolysis in case of a combination of fibrate and HMG-CoA reductase inhibitor. In the above-mentioned combination, there is possibility to correct abnormal lipid metabolism without developing rhabdomyolysis.  
      As combination drugs, HMG-CoA reductase inhibitor, cholesterol absorption inhibitor, bile acid absorption inhibitor, pancreatic lipase inhibitor is preferred.  
      As other drugs to compensate and/or enhance for hypoglycemic effect of the compound represented by formula (I), and to enhance effect of the treatment of complication of diabetes, i.e. therapeutic agents for diabetes, they include, for example, sulfonylurea type hypoglycemic agent, biguanide preparation, alfa-glucosidase inhibitor, fast-acting insulin secretion accelerator, insulin preparation, dipeptidyl peptidase 4 inhibitor, β 3  adrenaline receptor activator, PPAR agonist, other therapeutic agents for diabetes, therapeutic agents for complication of diabetes and so on.  
      Examples of sulfonylurea type hypoglycemic agents include acetohexamide, glibenclamide, gliclazide, glyclopyramide, chlorpropamide, tolazamide, tolbutamide and glimepiride, and so on. Examples of biguanide preparations include buformin hydrochloride and metformin hydrochloride, and so on. Examples of alfa-glucosidase inhibitors include acarbose and voglibose, and so on. Examples of fast-acting insulin secretion accelerators include nateglinide and repaglinide, and so on. Examples of dipeptidyl peptidase 4 inhibitor include NVP-DPP728A and so on. Examples of beta-3 adrenaline receptor activators include AJ-9677, BMS-210285, CP-331679, KUL-1248, LY-362884, L-750335 and CP331648, and so on. Examples of PPAR agonist include tesaglitazar (AZ-242), muraglitazar (BMS-298585), TAK-559, LY-510929, ONO-5129, netoglitazone (isaglitazone), GW-501516, LY-465608, GW-590735, RO-205-2349, GW-409544, pioglitazone hydrochloride, rosiglitazone maleate and so on.  
      Examples of therapeutic agents for complication of diabetes include aldose reductase inhibitor (epalrestat, fidarestat, zenarestat etc.) and so on.  
      As other drugs to compensate and/or enhance for anti-adiposity effect of the compound represented by formula (I), i.e. anti-adiposity agents, they include, for example, appetite suppressing agent, pancreatic lipase inhibitor, beta-3 adrenaline receptor activator, serotonin norepinephrine dopamine reuptake inhibitor and so on. Examples of appetite suppressing agent include leptin, mazindol, amphetamine, methamphetamine, and so on. Examples of pancreatic lipase inhibitor include orlistat and so on. Examples of beta-3 adrenaline receptor activator include AJ-967, BMS-210285, CP-331679, KUL-1248, LY-362884, L-750335, CP-331648, and so on. Examples of serotonin norepinephrine dopamine reuptake inhibitor include sibutramine and so on.  
      The weight proportion of the compound represented by formula (I) or a salt thereof and the other drugs is not specifically limited.  
      Arbitrary two or more of the other drugs may be administered in combination.  
      Examples of the other pharmaceutical preparations for compensating for and/or enhancing the preventive and/or treatment effect of the compound represented by formula (I) or a salt thereof include not only those which have so far been found but also those which will be found on the basis of the above-mentioned mechanism.  
      In order to use the compound of the invention represented by formula (I) or a salt thereof, or the compound represented by formula (I) or a salt thereof in combination with the other pharmaceutical preparations, these compounds are normally administered to the entire of human body or topically orally or parenterally.  
      The dose of these compounds depends on the age, weight and symptom of the patient, the remedial value, the administration method, the treatment time, etc. In practice, however, these compounds are administered orally once or several times per day each in an amount of from 1 mg to 1000 mg per adult, parenterally once or several times per day each in an amount of from 1 mg to 100 mg per adult or continuously administered into vein for 1 hour to 24 hours per day.  
      It goes without saying that the dose of these compounds may be less than the above-mentioned value or may need to exceed the above-mentioned range because the dose varies under various conditions as mentioned above.  
      When the compounds of the invention represented by formula (I) or a salt thereof, or the compound represented by formula (I) or a salt thereof is administered in combination with the other pharmaceutical preparations, they are used in the form of solid or liquid agent for oral administration, injection, agent for external application, suppository, eye drops or inhalant for parenteral administration or the like.  
      Examples of the solid agent for oral administration include tablet, pill, capsule, powder, and pellet. Examples of the capsule include hard capsule, and soft capsule.  
      In such a solid agent for internal application, one or more active materials are used in the form of preparation produced by an ordinary method singly or in admixture with a vehicle (e.g., lactose, mannitol, glucose, microcrystalline cellulose, starch etc.), binder (e.g., hydroxypropyl cellulose, polyvinyl pyrrolidone, magnesium metasilicoaluminate etc.), disintegrant (e.g., calcium fibrinoglycolate etc.), glidant (e.g., magnesium stearate etc.), stabilizer, dissolution aid (e.g., glutamic acid, aspartic acid etc.) or the like. The solid agent may be coated with a coating agent (e.g., white sugar, gelatin, hydroxypropyl cellulose, hydroxypropyl methyl cellulose phthalate etc.) or two or more layers. Alternatively, the solid agent may be capsulated by an absorbable material such as gelatin.  
      Examples of the liquid agent for oral administration include pharmaceutically acceptable aqueous solution, suspension, emulsion, syrup, and elixir. In such a liquid agent, one or more active agents are dissolved, suspended or emulsified in a commonly used diluent (e.g., purified water, ethanol, mixture thereof etc.). Furthermore, such a liquid agent may comprise a wetting agent, a suspending agent, an emulsifier, a sweetening agent, a flavor, a preservative, a buffer, etc.  
      The agent for parenteral administration may be in the form of, e.g., ointment, gel, cream, wet compress, paste, liniment, nebula, inhalant, spray, aerosol, eye drops, collunarium or the like. These agents each contain one or more active materials and are prepared by any known method or commonly used formulation.  
      The ointment is prepared by any known or commonly used formulation. For example, one or more active materials are triturated or dissolved in a base to prepare such an ointment. The ointment base is selected from known or commonly used materials. In some detail, higher aliphatic acid or higher aliphatic acid ester (e.g., adipic acid, myristic acid, palmitic acid, stearic acid, oleic acid, adipic acid ester, myristic acid ester, palmitic acid ester, stearic acid ester, oleic acid ester etc.), wax (e.g., beeswax, whale wax, ceresin etc.), surface active agent (e.g., polyoxyethylenealkylether phosphoric acid ester etc.), higher alcohol (e.g., cetanol, stearyl alcohol, setostearyl alcohol etc.), silicon oil (e.g., dimethyl polysiloxane etc.), hydrocarbon (e.g., hydrophilic petrolatum, white petrolatum, purified lanolin, liquid paraffin etc.), glycol (e.g., ethylene glycol, diethylene glycol, propylene glycol, polyethylene glycol, macrogol etc.), vegetable oil (e.g., castor oil, olive oil, sesame oil, turpentine oil), animal oil (mink oil, vitelline oil, squalane, squalene), water, absorption accelerator and rash preventive may be used singly or in admixture of two or more thereof The base may further comprise a humectant, a preservative, a stabilizer, an antioxidant, a perfume, etc.  
      The gel is prepared by any known or commonly used formulation. For example, one or more active materials are dissolved in a base to prepare such a gel. The gel base is selected from known or commonly used materials. For example, lower alcohol (e.g., ethanol, isopropyl alcohol etc.), gelling agent (e.g., carboxymethyl cellulose, hydroxyethyl cellulose, hydroxypropyl cellulose, ethyl cellulose etc.), neutralizing agent (e.g., triethanolamine, diisopropanolamine etc.), surface active agent (e.g., polyethylene glycol monostearate etc.), gums, water, absorption accelerator, and rash preventive are used singly or in admixture of two or more thereof The gel base may further comprise a preservative, an antioxidant, a perfume, etc.  
      The cream is prepared by any known or commonly used formulation. For example, one or more active materials are dissolved in a base to prepare such a cream. The cream base is selected from known or commonly used materials. For example, higher aliphatic acid ester, lower alcohol, hydrocarbon, polyvalent alcohol (e.g., propylene glycol, 1,3-butylene glycol etc.), higher alcohol (e.g., 2-hexyl decanol, cetanol etc.), emulsifier (e.g., polyoxyethylene alkyl ethers, aliphatic acid esters etc.), water, absorption accelerator, and rash preventive are used singly or in admixture of two or more thereof The cream base may further comprise a preservative, an antioxidant, a perfume, etc.  
      The wet compress is prepared by any known or commonly used formulation. For example, one or more active materials are dissolved in a base to prepare a kneaded mixture which is then spread over a support to prepare such a wet compress. The wet compress base is selected from known or commonly used materials. For example, thickening agent (e.g., polyacrylic acid, polyvinyl pyrrolidone, gum arabic, starch, gelatin, methyl cellulose etc.), wetting agent (e.g., urea, glycerin, propylene glycol etc.), filler (e.g., kaolin, zinc oxide, talc, calcium, magnesium etc.), water, dissolution aid, tackifier, and rash preventive may be used singly or in admixture of two or more thereof The wet compress base may further comprise a preservative, an antioxidant, a perfume, etc.  
      The pasting agent is prepared by any known or commonly used formulation. For example, one or more active materials are dissolved in a base to prepare a kneaded mixture which is then spread over a support to prepare such a pasting agent. The pasting agent base is selected from known or commonly used materials. For example, polymer base, fat and oil, higher aliphatic acid, tackifier and rash preventive may be used singly or in admixture of two or more thereof The pasting agent base may further comprise a preservative, an antioxidant, a perfume, etc.  
      The liniment is prepared by any known or commonly used formulation. For example, one or more active materials are dissolved, suspended or emulsified in water, alcohol (e.g., ethanol, polyethylene glycol etc.), higher aliphatic acid, glycerin, soap, emulsifier, suspending agent, etc., singly or in combination of two or more thereof, to prepare such a liniment. The liniment may further comprise a preservative, an antioxidant, a perfume, etc.  
      The nebula, inhalant, spray and aerozol each may comprise a commonly used diluent, additionally, a stabilizer such as sodium hydrogen sulfite and a buffer capable of providing isotonicity such as isotonic agent (e.g., sodium chloride, sodium citrate, or citric acid etc.). For the process for the preparation of spray, reference can be made to U.S. Pat. Nos. 2,868,691 and 3,095,355.  
      The injection for parenteral administration consists of solid injection used to be dissolved or suspended in the form of solution, suspension, emulsion and a solvent to be dissolved before use. The injection is prepared by dissolving, suspending or emulsifying one or more active materials in a solvent. As such a solvent there may be used distilled water for injection, physiological saline, vegetable oil, alcohol such as propylene glycol, polyethylene glycol and ethanol, etc., singly or in combination thereof The injection may further comprise a stabilizer, a dissolution aid (e.g., glutamic acid, aspartic acid, Polysolvate 80 (trade name) etc.), a suspending agent, an emulsifier, a soothing agent, a buffer, a preservative, etc. The injection is sterilized at the final step or prepared by an aseptic process. Alternatively, an aseptic solid agent such as freeze-dried product which has previously been prepared may be rendered aseptic or dissolved in an aseptic distilled water for injection or other solvents before use.  
      The inhalant for parenteral administration may be in the form of aerosol, powder for inhalation or liquid for inhalation. The liquid for inhalation may be dissolved or suspended in water or other proper medium in use.  
      These inhalants are prepared by a known method.  
      For example, the liquid for inhalation is prepared from materials properly selected from preservatives (e.g., benzalconium chloride, Paraben etc.), colorants, buffering agents (e.g., sodium phosphate, sodium acetate etc.), isotonic agents (e.g., sodium chloride, concentrated glycerin etc.), thickening agents (e.g., carboxyvinyl polymer etc.), absorption accelerators, etc. as necessary.  
      The powder for inhalation is prepared from materials properly selected from glidants (e.g., stearic acid and salt thereof etc.), binders (e.g., starch, dextrin etc.), vehicles (e.g., lactose, cellulose etc.), colorants, preservatives (e.g., benzalconium chloride, Paraben etc.), absorption accelerators, etc., if necessary.  
      In order to administer the liquid for inhalation, a sprayer (e.g., atomizer, nebulizer etc.) is normally used. In order to administer the powder for inhalation, a powder inhaler is normally used.  
      Other examples of the composition for parenteral administration include suppository for rectal administration and pessary for vaginal administration prepared by an ordinary formulation comprising one or more active materials. 
    
    
     BEST MODE FOR CARRYING OUT THE INVENTION  
      The present invention is explained below in detail based on Examples and Reference Examples, however, the present invention is not limited thereto.  
      The solvents in parentheses at chromatographic separations section and TLC section show the developing or eluting solvents and the ratios of the solvents used are indicated by volume. The solvents in parentheses indicated in NMR section show solvents used in determination.  
      All compounds described in the specification are named by using of ACD/Name (Trade mark, Advanced Chemistry Development Inc.) or ACD/Name (Trade mark, Advanced Chemistry Development Inc.) batch which is the computer program to name according to IUPAC rule, or according to WPAC organic chemistry nomenclature  
     REFERENCE EXAMPLE 1  
       1 -bromo-3-(methoxymethoxy)benzene  
      Sodium hydroxide (24.2 g) was washed with hexane, and then was added by N,N-dimethylformamide (500 mL; DMF) and the mixture was cooled down, dropped by 3-bromophenol (99.6 g) and stirred for 30 minutes at a room temperature. The mixture was cooled down, dropped by chloromethylether (46 mL) and stirred for 30 minutes at a room temperature. The mixture was poured into iced water (2000 mL) and extracted by mixed solvent (hexane : ethyl acetate=2:1). The extract was washed with water and saturated brine successively, dried over anhydrous magnesium sulfate and then concentrated to give the title compound (32.6 g) having the following physical data.  
      TLC: Rf 0.80 (hexane: ethyl acetate=2:1).  
     REFERENCE EXAMPLE 2  
     [3-(methoxymethoxy)phenyl]boronic acid  
      A solution of the compound prepared in Reference Example 1 (32.6 g) in tetrahydrofuran (600 mL; THF) was cooled down to a temperature of −78° C., dropped by 1.5M n-butyllithium-hexane solution (110 mL) below −60° C. and then stirred by for an hour at −78° C. The mixture was dropped by trimethyl borate (50 mL) below −60° C. and stirred for an hour and a half with rising from −78° C. to −40° C. The mixture was added by saturated ammonium chloride solution (150 mL) and stirred for an hour with rising from −10° C. to 10° C. The mixture was added by water, extracted by ethyl acetate and the extract was washed with 1N hydrochloric acid, water and saturated brine successively, dried over and then concentrated. The residue was added by mixed solvent (hexane: ethyl acetate=3:1) to obtain crystals and the filtrate was concentrated. Solid obtained by purifying obtained residue with column and the above-mentioned obtained crystals were mixed to give the title compound (12 g) having the following physical data.  
      TLC: Rf 0.47 (hexane:ethyl acetate=1:1)  
     REFERENCE EXAMPLE 3  
     methyl [3′-(methoxymethoxy)biphenyl-3-yl]acetate  
      A solution of the compound prepared in Reference Example 2 (11.9 mg) in toluene (260 mL) was added by methyl 3-bromophenyl acetate (15.0 g), tetrakis(triphenylphosphine)palladium (3.8 g) and 2M sodium carbonate solution (98 mL) and stirred for 2 hours at 90° C. The mixture was stood to cool till a room temperature and then the insoluble matters were eliminated. The organic layer was washed with water and saturated brine successively, dried over anhydrous magnesium sulfate and concentrated. The residue was purified by column to give the title compound (16.6 g) having the following physical data.  
      TLC: Rf 0.60 (hexane:ethyl acetate=2:1); NMR(CDCl 3 ):δ 3.51 (s, 3H), 3.69 (s, 2H), 3.71 (s, 3H), 5.23 (s, 2H), 7.03 (m, 1H), 7.25 (m, (m, 3H), 7.37 (m, 2H), 7.49 (m, 2H).  
     REFERENCE EXAMPLE 4  
     methyl (3′-hydroxybiphenyl-3-yl)acetate  
      A solution of the compound prepared in Reference Example 3 (16.6 g) in methanol (140 mL) was iced down, added by 4N hydrogen chlorid-1,4-dioxane solution (35 mL) and stirred for an hour at a room temperature. The insoluble matters were eliminated and then the filtrate was concentrated. The residue was purified by column to give the title compound (12.7 g) having the following physical data.  
      TLC: Rf 0.60 (hexane:ethyl acetate=2:1); NMR(CDCl 3 ):δ 3.69 (s, 2H), 3.72 (s, 3H), 5.12 (s, 1H), 6.82 (m, 1H), 7.05 (dd, 1H), 7.15 (m, 1H), 7.28 (m, 2H), 7.38 (m, 1H), 7.47 (m, 2H).  
     EXAMPLE 1  
     methyl [3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetate  
     
       
         
         
             
             
         
       
     
      A solution of the compound prepared in Reference Example 4 (12.7 g) in DMF (150 mL) was added by 1-[(1E)-3-bromo-1-propen-1-yl]-4-(trifluoromethyl)benzene (16.7 g) and potassium carbonate (8.7 g) and stirred overnight at a room temperature. The mixture was poured into water (600 mL) and extracted by ethyl acetate. The extract was washed with diluted hydrochloric acid, water and saturated brine successively, dried over and then concentrated. The residue was purified by column to give the title compound (19.0 g) having the following physical data.  
      TLC: Rf 0.43 (hexane:ethyl acetate=4:1); NMR(CDCl 3 ):δ 3.69 (s, 2H), 3.71 (s, 3H), 4.79 (dd, 2H), 6.54 (dt, 1H), 6.81 (d, 1H), 6.95 (m, 1H), 7.20 (m, 2H), 7.28 (m, 1H), 7.39 (m, 2H), 7.50 (m, 4H), 7.59 (d, 2H).  
     EXAMPLE 2  
     [3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
     
       
         
         
             
             
         
       
     
      A mixed solution of the compound prepared in Example 1 (19.0 g) in THF (70 mL) and methanol (70 mL) was added by 2N sodium hydroxide solution (70 mL) and stirred for an hour at a room temperature. The mixture was added by 2N hydrochloric acid to be acidified, added by water (70 mL) and extracted by ethyl acetate. The extract was washed with saturated brine, dried over anhydrous magnesium sulfate and then concentrated. The residue was recrystallized by a mixed solution (75 mL; hexane:ethyl acetate=5:8) to give the title compound (14.1 g) having the following physical data.  
      TLC: Rf 0.41 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 7.58 (d, 2H), 7.51 (m, 4H), 7.40 (dd, 1H), 7.36 (dd, 1H), 7.28 (m, 1H), 7.19 (m, 2H), 6.94 (ddd, 1H), 6.80 (d, 1H), 6.52 (dt, 1H), 4.78 (dd, 2H), 3.71 (s, 2H).  
     EXAMPLE 3(1)-EXAMPLE 3(48)  
      By the same procedure as described in Example 1 and 2 using the corresponding alcohol derivative instead of the compound prepared in Reference Example 4 and 1-[(1E)-3-bromo-1-propen-1-yl]-4-(trifluoromethyl)benzene or the corresponding halide instead thereof, additionally if necessary, by converting into the corresponding salt by known method, the following compounds of the present invention were obtained. Also NMR data of the following compounds of the present invention was described as the characteristic peak.  
     EXAMPLE 3(1)  
     (3′-{[(2E)-3-phenyl-2-propen-1-yl]oxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.53 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.44 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(2)  
     (2′-{[(2E)-3-biphenyl-4-yl-2-propen-1-yl]oxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.45 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 6.50 (dt, 1H), 3.52 (s, 2H).  
     EXAMPLE 3(3)  
     [3′-({4-methyl-2-[4-(tirfluoromethyl)phenyl]-1,3-thiazol-5-yl}methoxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.69 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 5.25 (s, 2H), 3.71 (s, 2H), 2.53 (s, 3H).  
     EXAMPLE 3(4)  
     [3′-({(2E)-3-[4′-(trifluoromethyl)biphenyl-4-yl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.29 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.50 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(5)  
     [3′-({(2E)-3-[2-(trifluoromethoxy)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.41 (chloroform:methanol=9:1); NMR(CDCl1 3 ):δ 6.49 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(6)  
     [3′-({(2E)-3-[3-(tirfluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.50 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(7)  
     [3′-({(2E)-3-[3-(trifluoromethoxy)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.38 (chloroform:methanol =9:1); NMR(CDCl 3 ):δ 6.46 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(8)  
     [3′-({(2E)-3-[4-(trifluoromethoxy)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.44 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.41 (dt, 1H), 3.71 (s, 2H).  
     EXAMPLE 3(9)  
     [3′-({(2E)-3-[3,5-bis(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.37 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.59 (dt, 1H), 3.72 (s, 2H).  
     EXAMPLE 3(10)  
     {3′-[((2E)-3-{4-[(trifluoromethyl)thio]phenyl}-2-propen-1-yl)oxy]biphenyl-3yl}acetic acid  
      TLC: Rf 0.38 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.73 (d, 1H), 3.61 (s, 2H).  
     EXAMPLE 3(11)  
     (3′-{[(2E)-3-(2,2-difluoro-1,3-benzodioxol-5-yl)-2-propen-1-yl]oxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.50 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.32 (dt, 1H), 3.61 (s, 2H).  
     EXAMPLE 3(12)  
     {2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-oxazol-4-yl}acetic acid  
      TLC: Rf 0.41 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.76 (d, 2H).  
     EXAMPLE 3(13)  
     {5-methyl-2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-oxazol-4-yl}acetic acid  
      TLC: Rf 0.40 (chloroform:methanol=10:1); NMR(DMSO-d 6 ):δ 6.70 (dt, 1 H), 3.51 (s, 2 H), 2.34 (s, 3H).  
     EXAMPLE 3(14)  
     3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-carboxylic acid  
      TLC: Rf 0.28 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 6.71 (dt, 1H), 4.86 (d, 2H).  
     EXAMPLE 3(15)  
     [2′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.29 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 6.63 (dt, 1H), 3.62 (s, 2H).  
     EXAMPLE 3(16)  
     {2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-thiazol-4-yl}acetic acid  
      TLC: Rf 0.35 (chloroform:methanol=10:1); NMR(DMSO-d 6 ):δ 6.70 (dt, 1H), 3.79 (s, 2H).  
     EXAMPLE 3(17)  
     {5-methyl-2-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-1,3-thiazol-4-yl}acetic acid  
      TLC: Rf 0.43 (chloroform:methanol=10:1); NMR(DMSO-d 6 ):δ 6.69 (dt, 1 H), 3.71 (s, 2H), 2.40 (s, 3H).  
     EXAMPLE 3(18)  
     {5-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]pyridin-3-yl}acetic acid  
      TLC: Rf 0.23 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.36 (d t, 1H), 3.47 (s, 2H).  
     EXAMPLE 3(19)  
     (3′-{[4-(trifluoromethyl)benzyl]oxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.47 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 5.17 (s, 2H), 3.71 (s, 2H).  
     EXAMPLE 3(20)  
     {6-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]pyridin-2-yl}acetic acid  
      TLC: Rf 0.21 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.54 (dt, 1H), 3.98 (s, 2H).  
     EXAMPLE 3(21)  
     [3′-({(2E)-3-[6-(trifluoromethyl)pyridin-3-yl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.53 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 6.61 (dt, 1H), 3.72 (s, 2H).  
     EXAMPLE 3(22)  
     [6-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.45 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.51 (d, 5.4 Hz, 1H), 3.63 (s, 2H), 2.24 (s, 3H).  
     EXAMPLE 3(23)  
     [2′-hydroxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.27 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 8.54 (brs, 1H), 6.70 (dt, 1H), 3.58 (s, 2H).  
     EXAMPLE 3(24)  
     [5-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.53 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 6.71 (dt, 1H), 3.79 (s, 3H), 3.60 (s, 2H).  
     EXAMPLE 3(25)  
     [2′-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.53 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 6.73 (dt, 1H), 3.61 (s, 3H), 3.60 (s, 2H).  
     EXAMPLE 3(26)  
     {3-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-2-thienyl}acetic acid  
      TLC: Rf 0.30 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.46 (dt, 1H), 3.85 (s, 2H).  
     EXAMPLE 3(27)  
     [3′-methoxy-2′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.50 (chloroform:methanol=9:1); NMR(DMSO-d6):δ 6.29 (dt, 1H), 3.84 (s, 3H), 3.58 (s, 2H).  
     EXAMPLE 3(28)  
     {4-[3-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)phenyl]-2thienyl}acetic acid  
      TLC: Rf 0.41 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.91 (s, 2H).  
     EXAMPLE 3(29)  
     [2-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.58 (methylene chloride:methanol=9:1); NMR(DMSO-d 6 ):δ 6.69 (dt, 1H), 3.60 (s, 2H), 3.24 (s, 3H).  
     EXAMPLE 3(30)  
     [6-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.55 (methylene chloride:methanol=9:1); NMR(CDCl 3 ):δ 6.53 (dt, 1H), 3.77 (s, 3H), 3.62 (s, 2H).  
     EXAMPLE 3(31)  
     [3′-hydroxy-2′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.42 (methylene chloride:methanol=9:1); NMR(CDCl 3 ):δ 6.20 (dt, 1H), 5.94 (brs, 1H), 3.67 (s, 2H).  
     EXAMPLE 3(32)  
     [4-methoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.42 (hexane:ethyl acetate=3:7); NMR(DMSO-d 6 ):δ 6.70 (dt, 1H), 3.78 (s, 3H), 3.56 (s, 2H).  
     EXAMPLE 3(33)  
     (3′-{[5-(trifluoromethyl)-1,3-benzothiazol-2-yl]methoxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.42 (chloroform:methanol=10:1); NMR(DMSO-d 6 ):δ 5.75 (s, 2H), 3.64 (s, 2H).  
     EXAMPLE 3(34)  
     [4-chloro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)bipheny-3-yl)acetic acid  
      TLC: Rf 0.48 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.65 (s, 2H).  
     EXAMPLE 3(35)  
     [6-chloro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf0.41 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.88 (s, 2H).  
     EXAMPLE 3(36)  
     [5-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.43 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.67 (s, 2H), 2.40 (s, 3H)  
     EXAMPLE 3(37) [3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.43 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 6.63 (dt, 1H), 3.72 (s, 2H).  
     EXAMPLE 3(38)  
     [3′-({(2E)-3-[2,4-bis(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl)acetic acid.sodium salt  
      TLC: Rf 0.50 (chloroform:methanol=10:1) NMR(DMSO-d 6 ):δ 6.81 (dt, 1H), 3.27 (s, 2H).  
     EXAMPLE 3(39)  
     [5-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-]acetic acid  
      TLC: Rf 0.35 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.70 (s, 2H).  
     EXAMPLE 3(40)  
     (3′-{[6-(trifluoromethyl)-1,3-benzothiazol-2-yl]methoxy}biphenyl-3-yl)acetic acid  
      TLC: Rf 0.42 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 5.55 (s, 2H), 3.71 (s, 2H).  
     EXAMPLE 3(41)  
     [2-chloro-6-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.57 (methanol:methylene chloride=1:9); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.84(s, 2H), 2.06(s, 3H).  
     EXAMPLE 3(42)  
     [6-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.56 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.66 (s, 2H).  
     EXAMPLE 3(43)  
     [4-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.55 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.76 (s, 2H).  
     EXAMPLE 3(44)  
     [2-methyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.67 (methanol:methylene chloride=1:9); NMR(CDCl 3 ):δ 6.51(dt, 1H), 3.75(s, 2H), 2.20(s, 3H).  
     EXAMPLE 3(45)  
     [4,6-dimethyl-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)bipheny-3-yl]acetic acid  
      TLC: Rf 0.58 (methanol:methylene chloride=1:10); NMR(CDCl 3 ):δ 6.51(dt, 1H), 3.65(s, 2H), 2.32(s, 3H), 2.22(s, 3H).  
     EXAMPLE 3(46)  
     [4,6-dimethoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.50 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.52 (dt, 1H), 3.89 (s, 3H), 3.80 (s, 3H), 3.64 (s, 2H).  
     EXAMPLE 3(47)  
     [4,5-dimethoxy-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetic acid  
      TLC: Rf 0.43 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 6.51 (dt, 1H), 3.90 (s, 3H), 3.63 (s, 2H), 3.56 (s, 3H).  
     EXAMPLE 3(48)  
     [2-fluoro-3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl)acetic acid  
      TLC: Rf 0.47 (methanol:methylene chloride=1:10); NMR(CDCl 3 ):δ 6.51(dt, 1H), 3.77(s, 2H).  
     EXAMPLE 4  
     methyl (3′-{[(2E)-3-biphenyl-4-yl-2-propen-1-yl]oxy}biphenyl-3-yl)acetate  
     
       
         
         
             
             
         
       
     
      Under atmosphere of argon, a solution of the compound prepared in Reference Example 4 (12.1 g), (2E)-3-biphenyl-4-yl-2-propen-1-ol (13.6 g) and triphenylphosphine (19.6 g) in methylene chloride (200 mL) was added by 1,1′-(azodicarbonyl)dipiperidine (18.9 g) and stirred for 18 hours. The mixture was concentrated, diluted by diisopropylether, filtrated and then concentrated. The obtained residue was purified by column to give the title compound (10.7 g) having the following physical data.  
      TLC: Rf 0.40 (hexane:ethyl acetate=5:1); NMR(CDCl 3 ):δ 7.62-7.20 (m, 16H), 7.00 (m, 1H), 6.82 (d, 1H), 6.49 (dt, 1H), 4.78 (dd, 2H), 3.70 (s, 3H), 3.69 (s, 2H).  
     EXAMPLE 5  
     (3′-{[(2E)-3-biphenyl-4-yl-2-propen-1-yl]oxy}biphenyl-3-yl)acetic acid  
     
       
         
         
             
             
         
       
     
      A mixed solution of the compound prepared in Example 4 (2.6 g) in methanol (5 mL) and THF (5 mL) was added by 2N sodium hydroxide solution (1.5 mL) and stirred for 3 hours at a room temperature. The mixture was neutralized with 2N hydrochloric acid and extracted by ethyl acetate. The extract was washed with water and saturated brine successively, dried and then concentrated. The residue was recrystallized with a mixed solvent (hexane:ethyl acetate=1:1) to give the title compound (2.0 g) having the following physical data.  
      TLC: Rf 0.63 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 7.64-7.27 (m, 14H), 7.22-7.16 (m, 2H), 7.00-6.92 (m, 1H), 6.80 (brd, 1H), 6.48 (dt, 1H), 4.78 (dd, 2H), 3.71 (s, 2H).  
     EXAMPLE 6(1)-EXAMPLE 6(19)  
      By the same procedure as described in Example 4 and 5 using the compound prepared in Reference Example 4 or the corresponding alcohol derivative instead thereof and the corresponding alcohol derivative instead of (2E)-3-biphenyl-4-yl-2-propen-1-ol, additionally if necessary, by converting into the corresponding salt by known method, the following compounds of the present invention were obtained. Also NMR data of the following compounds of the present invention was described as the characteristic peak.  
     EXAMPLE 6(1)  
     {3′-[2-(5-methyl-2-phenyl-1,3-oxazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid  
      TLC: Rf 0.37 (chloroform:methanol=15:1); NMR(CDCl 3 ):δ 3.60 (s, 2H), 2.38 (s, 3H).  
     EXAMPLE 6(2)  
     3′-[3-(5-methyl-2-phenyl-1,3-oxazol-4-yl)propoxy]biphenyl-3-carboxylic acid  
      TLC: Rf 0.56 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 4.07 (t, 2H), 2.31 (s, 3H).  
     EXAMPLE 6(3)  
     (3′-{2-[2-(4-cyclohexylphenyl)-5-methyl-1,3-oxazol-4-yl]ethoxy}biphenyl-2-yl)acetic acid  
      TLC: Rf 0.57 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 3.59 (s, 2H), 2.36 (s, 3H).  
     EXAMPLE 6(4)  
     {4′-methoxy-3′-[2-(5-methyl-2-phenyl-1,3-oxazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid  
      TLC: Rf 0.48 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 3.93 (s, 3H), 3.62 (s, 2H), 2.36 (s, 3H).  
     EXAMPLE 6(5)  
     (3′-{2-[2-(4-isopropylphenyl)-5-methyl-1,3-oxazol-4-yl]ethoxy}biphenyl-2-yl)acetic acid  
      TLC: Rf 0.56 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 3.59 (s, 2H), 2.36 (s, 3H), 1.26 (d, 6H).  
     EXAMPLE 6(6)  
     {3′-[2-(2-isopropyl-5-methyl-1,3-oxazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid.sodium salt  
      TLC: Rf 0.36 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 3.26 (s, 2H), 2.85 (sept, 1H), 2.15 (s, 3H).  
     EXAMPLE 6(7)  
     (3′-{2-[5-methyl-2-(6-piperidin-1-ylpyridin-3-yl)-1,3-oxazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid  
      TLC: Rf 0.53 (chloroform:methanol=10:1); NMR(CDCl 3 ):δ 3.58 (s, 2H), 2.34 (s, 3H), 1.66 (br, 6H).  
     EXAMPLE 6(8)  
     (3′-{2-[5-methyl-2-(6-morphorin-4-ylpyridin-3-yl)-1,3-oxazol-4-yl]ethoxy}biphenyl-2-yl)acetic acid  
      TLC: Rf 0.58 (chloroform methanol=10:1); NMR(CDCl 3 ):δ 5 3.58 (s, 2H), 2.35 (s, 3H).  
     EXAMPLE 6(9)  
     {3′-[2-(5-methyl-2-piperidin-1-yl-1,3-thiazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid  
      TLC: Rf 0.61 (chloroform:methanol=8:1); NMR(CDCl 3 ):δ 3.54 (s, 2H), 2.24 (s, 3H).  
     EXAMPLE 6(10)  
     (3′-{2-[5-methyl-2-(4-methylpiperazin-1-yl)-1,3-thiazol-4-yl]ethoxy}biphenyl-2-acetic acid  
      TLC: Rf 0.35 (chloroform:methanol=5:1); N(CDCl 3 ):δ 3.55 (s, 2H), 2.34 (s, 3H), 2.25 (s, 3H).  
     EXAMPLE 6(11)  
     {3′-[2-(5-methyl-2-morphorin-4-yl-1,3-thiazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid.hydrochloride  
      TLC: Rf 0.54 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 3.49 (s, 2H), 2.20 (s, 3H).  
     EXAMPLE 6(12)  
     [3′-(2-{5-methyl-2-[4-(tetrahydro-2H-pyran-4-yl)phenyl]-1,3-oxazol-4-yl}ethoxy)biphenyl-2-yl]acetic acid.½ calcium salt  
      TLC: Rf 0.53 (chloroform:methanol=8:1); NMR(DMSO-d 6 ):δ 4.00-3.84 (m, 2H), 2.30 (s, 3H).  
     EXAMPLE 6(13)  
     (3′-{2-[5-methyl-2-(4-morphorin-4-ylphenyl)-1,3-oxazol-4-yl]ethoxy}biphenyl-2-yl)acetic acid  
      TLC: Rf 0.50 (methylene chloride:methanol=10:1); NMR(CDCl 3 ):δ 3.59 (s, 2H), 2.35 (s, 3H).  
     EXAMPLE 6(14)  
     {3′-[2-(5-methyl-2-thiomorphorin-4-yl-1,3-thiazol-4-yl)ethoxy]biphenyl-2-yl}acetic acid  
      TLC: Rf 0.25 (chloroform:methanol=19:1); NMR(DMSO-d 6 ):δ 3.49 (s, 2H), 2.19 (s, 3H).  
     EXAMPLE 6(15)  
     [3′-(2-{5-methyl-2-[4-(trifluoromethoxy)phenyl]-1,3-oxazol-4-yl}ethoxy)biphenyl-2-yl]acetic acid  
      TLC: Rf 0.33 (chloroform:methanol=19:1); NMR(CDCl 3 ):δ 3.60 (s, 2H), 2.38 (s, 3H).  
     EXAMPLE 6(16)  
     (3′-{2-[5-methyl-2-(6-methylpyridin-3-yl)-1,3-oxazol-4-yl]ethoxy}biphenyl-2-yl)acetic acid  
      TLC: RfO.51 (chloroform:methanol=19:1); NMR(CDCl 3 ):δ 3.60 (s, 2H), 2.60 (s, 3H), 2.38 (s, 3H).  
     EXAMPLE 6(17)  
     [3′-(2-{5-methyl-2-[4-(trifluoromethyl)phenyl]-1,3-oxazol-4-yl}ethoxy)biphenyl-3-yl)acetic acid  
      TLC: Rf 0.67 (chloroform:methanol=9:1); NMR(CDCl 3 ):δ 3.70 (s, 2H), 2.40 (s, 3H).  
     EXAMPLE 6(18)  
     (3′-{3-[4-(trifluoromethyl)piperidin-1-yl]propoxy}biphenyl-3-yl)acetic acid.hydrochloride  
      TLC: Rf 0.69 (chloroform:methanol=4:1); NMR(DMSO-d 6 ):δ 3.64 (s, 2H), 3.21 (m, 2H), 2.65 (m, 1H).  
     EXAMPLE 6(19)  
     3′-(3-{5-methyl-2-[4-(trifluoromethyl)phenyl]-1,3-oxazol-4-yl}propoxy)biphenyl-3-carboxylic acid  
      TLC: Rf 0.37 (chloroform:methanol=9:1); NMR(DMSO-d 6 ):δ 2.32 (s, 3H), 2.07 (quintet, 2H).  
     EXAMPLE 7  
     (3′-{3-[4-(trifluoromethyl)phenyl]propoxy}biphenyl-3-yl)acetic acid  
     
       
         
         
             
             
         
       
     
      A solution of the compound prepared in Example 2 (55 mg) in ethanol (1.5 mL) was added by 10% palladium-carbon (10 mg) and under atmosphere of hydrogen stirred for 6 hours. The mixture was filtrated and concentrated. The residue was added by ethyl acetate, filtrated by membrane filter and the filtrate was concentrated. The obtained crystal was washed and then dried to give the title compound (47 mg) having the following physical data.  
      TLC: Rf 0.52 (chloroform:methanol=10:1); NMR(CDCl 3 ):2.13 (m, 2H), 2.89 (t, 2H), 3.70 (s, 2H), 4.01 (t, 2H), 5.48 (s, 1H), 6.87 (dd, 1H), 7.09 (m, 1H), 7.16 (d, 1H), 7.33 (m, 5H), 7.52 (m, 4 H).  
     EXAMPLE 8  
     [2-fluoro-3′-({(2E)-3-[2-fluoro-4-(trifluoromethyl)phenyl}prop-2-en-1-yl}oxy)biphenyl-3-yl]acetic acid sodium salt  
     
       
         
         
             
             
         
       
     
      By the same procedure as described in Example 1 and 2 using methyl (2-fluoro-3′-hydroxybiphenyl-3-yl)acetate instead of the compound prepared in Reference Example 4 and 1-[(1E)-3-bromo-1-propen-1-yl]-2-fluoro-4-(trifluoromethyl)benzene instead of 1-[(1E)-3-bromo-1-propen-1-yl]4-(trifluoromethyl)benzene, additionally, by converting into a sodium salt by known method, the following compounds of the present invention were obtained.  
      TLC: Rf 0.51 (methylene chloride:methanol=10:1); NMR(DMSO-d 6 ):δ 7.91(t, 1H), 7.66(d, 1H), 7.55(d, 1H), 7.38(t, 1H), 7.31-7.20(m, 2H), 7.15-7.05(m, 3H), 7.02(d, 1H), 6.93(d, 1H), 6.83(dt, 1H), 4.85(d, 2H), 3.40(s, 2H).  
     EXAMPLE 9  
     2-[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetamide  
     
       
         
         
             
             
         
       
     
      Under atmosphere of argon, a solution of the compound prepared in Example 2 (2.06 g) in methylene chloride solution (20 mL) was added by oxalyl chloride (0.65 mL) and catalytic amount of DMF at 0° C. and the mixture was stirred for 30 minutes at a room temperature. The mixture was concentrated, under atmosphere of argon, dissolved by methylene chloride (20 mL) and dropped by 28% ammonia water at 0° C. and left for 10 minutes. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated to give the title compound (2.06 g) having the following physical data.  
      TLC: Rf 0.44 (methylene chloride: methanol=10:1).  
     EXAMPLE 10  
     [3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]acetonitrile  
     
       
         
         
             
             
         
       
     
      Under atmosphere of argon, a solution of the compound prepared in Example 9 (1.80 g) in methylene chloride was added by pyridine (2.1 mL) and trifluoromethane sulfonic acid anhydride (1.47 mL) and the mixture was stirred for 30 minutes at 0° C. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine, dried and concentrated. The residue was purified by column to give the title compound (2.0 g) having the following physical data.  
      TLC: Rf 0.37 (hexane:ethyl acetate=4:1).  
     EXAMPLE 11  
       5 -{[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl-1H-tetrazol  
     
       
         
         
             
             
         
       
     
      A solution of the compound prepared in Example 10 (350 mg) in toluene (3.5 mL) was added by trimethyltinazide (227 mg) and stirred for 21 hours under reflux. The mixture was added by methanol (9 mL) and 2N hydrochloric acid (6 mL) and stirred for 20 minutes. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with 1N hydrochloric acid, water and saturated brine successively, dried and then concentrated. The residue was washed with a mixed solvent of hexane and ethyl acetate to give the title compound (207 mg) having the following physical data.  
      TLC: Rf 0.53 (methylene chloride:methanol=10:1); NMR(DMSO-d 6 ):δ 4.36 (s, 2H), 4.84 (d, 1H), 6.72 (dt, 1H), 6.89 (d, 1H), 7.02 (dd, 1H), 7.23-7.21 (m, 3H), 7.38 (d, 1H), 7.43 (d, 1H), 7.57 (d, 1H), 7.62 (m, 1H), 7.75-7.66 (m, 4H), 16.18 (m, 1H).  
     EXAMPLE 12  
     N-(methylsulfonyl)-2-[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen1-yl}oxy)biphenyl-3-yl)acetamide  
     
       
         
         
             
             
         
       
     
      A solution of the compound prepared in Example 2 (206 mg) in DMF (2 mL) was added by methylsulfonamide (57 mg), 4-(dimethylamino)pyridine (73 mL) and 1-ethyl-3-(3-dimethylaminopropyl)carbodiimide-hydrochloride (115 mg) and stirred overnight at a room temperature. The mixture was added by water, hexane, ethyl acetate and methanol. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by column to give the title compound (53 mg) having the following physical data.  
      TLC: Rf 0.89 (n-hexane:ethyl acetate=1:1); NMR(CDCl 3 ):δ 3.27 (s, 3H), 3.76 (s, 2H), 4.79 (d, 2H), 6.54 (dt, 1H), 6.81 (d, 1H), 6.98 (m, 1H), 7.25-7.15 (m, 3H), 7.39 (t, 1H), 7.62-7.43 (m, 8H).  
     REFERENCE EXAMPLE 5  
     [3′-(methoxymethoxy)biphenyl-3-yl]acetonitrile  
      Under atmosphere of argon, a solution of 3-bromophenylacetonitrile (3.0 g) and [3-(methoxymethoxy)phenyl]boronic acid (2.0 g) in toluene (50 m L) was added by 2M sodium carbonate aqueous solution (15 mL) and tetrakis(triphenylphosphine)palladium (580 mg) and the mixture was stirred for 150 minutes at 100° C. The mixture was cooled down, added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by column to give the title compound (3.2 g) having the following physical data.  
      TLC: Rf 0.36 (hexane:ethyl acetate=4:1).  
     REFERENCE EXAMPLE 6  
     (1Z)-N′-hydroxy-2-[3′-(methoxymethoxy)biphenyl-3yl]ethaneimidoamide  
      A solution of the compound prepared in Reference Example 5 (3.2 g) in ethanol (40 mL) was added by hydroxylamine.hydrochloride (1.74 g) and triethylamine (3.5 mL) and the mixture was refluxed for 3 hours. The mixture was cooled down, added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by column to give the title compound having the following physical data.  
      TLC: Rf 0.69 (methylene chloride:methanol=9:1).  
     REFERENCE EXAMPLE 7  
       4 -{[3′-(methoxymethoxy)biphenyl-3-yl]methyl}-3H-1,2,3,5-oxathiadiazol 2-oxide  
      Under atmosphere of argon, a solution of the compound prepared in Reference Example 6 (421 mg) in tetrahydrofuran (6 mL) was added by pyridine (0.24 mL), dropped by thionyl chloride (0.11 mL) at 0° C. and the mixture was stirred for 90 minutes. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine, dried and then concentrated. The residue was purified by column to give the title compound (204 mg) having the following physical data.  
      TLC: Rf 0.61 (hexane:ethyl acetate=1:1).  
     REFERENCE EXAMPLE 8  
       3 ′-[(2-oxide-3H-1,2,3,5-oxathiadiazol-4-yl)methyl]biphenyl-3-ol)  
      The compound prepared in Reference Example 7 (200 mg) was dissolved with 4N hydrogen chloride-dioxane solution (5 mL) and stirred for 3 hours at a room temperature. The solvent was concentrated to give the title compound having the following physical data.  
      TLC: Rf 0.27 (hexane:ethyl acetate=2:1).  
     EXAMPLE 13  
     4-{[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl}-3H-1,2,3,5-oxathiadiazol 2-oxide  
     
       
         
         
             
             
         
       
     
      A solution of the compound prepared in Reference Example 8 and 1-[(1E)-3-bromo-1-propen-1-yl]-4-(trifluoromethyl)benzene (159 mg) in N,N-dimethylformamide (3 mL) was added by isopropylethylamine (97 μL) and potassium carbonate (91 mg) and the mixture was stirred overnight. The mixture was added by water and extracted by a mixed solvent of hexane:ethyl acetate=1:2. The organic layer was washed with water and saturated brine successively, dried and concentrated. The residue was purified by thin layer chromatography on silica gel to give the title compound (50 mg) having the following physical data.  
      TLC: Rf0.51 (n-hexane:ethyl acetate=2:1); NMR(DMSO-d 6 ):δ 4.53 (d, 2H), 5.81 (s, 2H), 6.56 (dt, 1H), 6.78-6.65 (m, 2H), 7.05-6.97 (m, 2H), 7.21 (t, 1H), 7.27 (d, 1H), 7.33 (t, 1H), 7.42 (d, 1H), 7.54 (s, 1H), 7.59 (d, 2H), 7.64 (d, 2H), 9.51 (s, 1H).  
     REFERENCE EXAMPLE 9  
       3 -{[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl}-1,2,4-oxadiazole-5(4H)-thion  
      Under atmosphere of argon, a solution of the compound prepared in Reference Example 6 (160 mg) in acetonitrile (5 mL) was added by thiocarbonyldiimidazol (150 mg) and 1,8-diazabicyclo[5.4.0]undec-7-ene (0.33 mL) and stirred for 90 minutes at a room temperature. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by thin layer chromatography on silica gel to give the title compound (118 mg) having the following physical data.  
     EXAMPLE 14  
       3 -{[3′-({(2E)-3-[4-(trifluorometheyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl}-1,2,4-oxadiazole-5(4H)-thion  
     
       
         
         
             
             
         
       
     
      By the same procedure as described in Reference Example 8 and Example 13 using the compound prepared in Reference Example 9 instead of the compound prepared in Reference Example 7, the compounds of the present invention having the following physical data were obtained.  
      TLC: Rf 0.73 (n-hexane:ethyl acetate=1:1); NMR(DMSO-d 6 ):δ 4.137 (s, 2H), 4.14 (d, 2H), 6.54 (dt, 1H), 6.79-6.71 (m, 2H), 7.05-6.97 (m, 2H), 7.22 (t, 1H), 7.26 (d, 1H), 7.36 (t, 1H), 7.48 (d, 1H), 7.57-7.51 (m, 3H), 7.62 (d, 2H), 9.52 (s, 1H).  
     REFERENCE EXAMPLE 10  
       3 -{[3′-(methoxymethoxy)biphenyl-3-yl]methyl}-1,2,4-thiadiazol-5(4H)-one  
      Under atmosphere of argon, a solution of the compound prepared in Reference Example 6 (175 mg) in THF (3 mL) was added by thiocarbonyldiimidazol (131 mg) and the mixture was stirred for 150 minutes at a room temperature, added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. Under atmosphere of argon, the residue was dissolved with THF (3 mL), added by trifluorobrone.diethylether complex (0.39 mL) and the mixture was stirred for 2 hours at a room temperature. The mixture was added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by column to give the title compound (95 mg) having the following physical data.  
      TLC: Rf 0.61 (hexane:ethyl acetate=1:1).  
     EXAMPLE 15  
       3 -{[3′-({(2E)-3-[4-(trifluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl}-1,2,4-thiadiazol-5(4H)-one  
     
       
         
         
             
             
         
       
     
      By the same procedure as described in Reference Example 8 and Example 13 using the compound prepared in Reference Example 10 instead of the compound prepared in Reference Example 7, the compounds of the present invention having the following physical data were obtained.  
      TLC: Rf 0.65 (n-hexane:ethyl acetate=1:1); NMR(DMSO-d 6 ):δ 4.21 (s, 2H), 4.58 (d, 2H), 6.24 (dt, 1H), 6.48 (d, 1H), 6.75 (m, 1H), 6.99-6.93 (m, 2H), 7.21 (t, 1H), 7.27 (d, 1H), 7.39 (t, 1H), 7.46 (d, 1H), 7.55-7.47 (m, 3H), 7.62 (d, 2H), 9.50 (s, 1H).  
     REFERENCE EXAMPLE 11  
       3 -{[3′-(methoxymethoxy)biphenyl-3-yl]methyl)-1,2,4-oxadiazol-5(4H)-one  
      Under atmosphere of argon, the compound prepared in Reference Example 6 (200 mg) in DMF (1.5 mL) was added by pyridine (62 μL), dropped by 2-ethylhexylchloroformate (0.14 mL) and the mixture was stirred for 90 minutes at a room temperature. The mixture was added by water and extracted by ethyl acetate. The organic layer was added by hexane, washed with water and saturated brine successively, dried and then concentrated. The residue was added by methaxylene (7 mL) and stirred for 5 hours at 130° C. The mixture was cooled down, added by water and extracted by ethyl acetate. The organic layer was washed with water and saturated brine successively, dried and then concentrated. The residue was purified by column to give the title compound (73 mg) having the following physical data.  
      TLC: Rf 0.47 (hexane:ethyl acetate).  
     EXAMPLE 16  
       3 -{3′-({(2E)-3-[4-(tirfluoromethyl)phenyl]-2-propen-1-yl}oxy)biphenyl-3-yl]methyl}-1,2,4-oxadiazol-5(4H)-one  
     
       
         
         
             
             
         
       
     
      By the same procedure as described in Reference Example 8 and Example 13 using the compound prepared in Reference Example 11 instead of the compound prepared in Reference Example 7, the compounds of the present invention having the following physical data were obtained.  
      TLC: Rf0.51 (n-hexane:ethyl acetate=1:1) NMR(DMSO-d 6 ):δ 4.17 (s, 2H), 4.37 (d, 2H), 6.13 (dt, 1H), 6.45 (d, 1H), 6.74 (m, 1H), 7.00-6.93 (m, 2H), 7.21 (t, 1H), 7.31 (d, 1H), 7.48-7.35 (m, 4H), 7.64-7.55 (m, 3H), 9.51 (s, 1H).  
     BIOLOGICAL EXAMPLES  
      It was confirmed that compounds of the present invention represented by formula (I) has PPAR regulatory activities by the following experiments.  
      Measurement of PPAR Agonistic Activities:  
      (1) Preparation of Materials in Luciferase Assay Using Human PPAR  
      The whole operations were based on the basic gene engineering techniques and the conventional methods in yeast One-hybrid or Two-hybrid system were carried out. The measurement of present invention is the method which has advancement of the measurement accuracy and improvement of the measurement sensitivity in order to evaluate the compounds of the present invention as follows.  
      That is, as a luciferase gene expression vector under the control of thymidine kinase (TK) promoter, luciferase structural gene was excised from PicaGene Basic Vector 2 (trade name, Toyo Ink Inc., catalogue No. 309-04821), to prepare luciferase gene expression vector pTK-Luc. under the control of TK promoter (−105/+51) as a minimum essential promoter activity from pTKβ having TK promoter (Chrontech Inc., catalogue No. 6179-1). In the upper stream of TK promoter, four times repeated UAS sequence was inserted, which is the response sequence of Gal4 protein, a basic transcription factor in yeast, to construct 4 X UAS-TK-Luc. as reporter gene. The following is the enhancer sequence used (SEQ ID NO:1).  
                              SEQ ID NO: 1:   Enhancer sequence repeating Gal4                       protein response sequence                   5′-T(CGACGGAGTACTGTCCTCCG)x4 AGCT-3′          
 
      A vector was prepared as described hereafter which expresses chimeric receptor protein wherein in carboxyl terminus of yeast Gal4 protein DNA binding domain was fused to ligand binding domain of human PPAR α, γ or δ. That is to say, PicaGene Basic Vector 2 (trade name, Toyo Ink Inc., catalogue No. 309-04821) was used as a basic expression vector, the structural gene was exchanged for that of chimeric receptor protein, while promoter and enhancer domains were kept as they were.  
      DNA encoding ligand binding domain of human PPAR α, γ or δ fused to DNA encoding Gal4 protein DNA binding domain, the downstream of DNA encoding the 1 st to 147th amino acid sequence for fitting their frames and inserted to the downstream of promoter/enhancer in PicaGene Basic Vector 2 (trade name, Toyo Ink Inc., catalogue No. 309-04821). Here, DNA sequence was aligned as follows, the amino terminus of human PPAR α, γ or δ ligand binding domain was sequenced nuclear translocation signal originated from SV-40 T-antigen, Ala Pro Lys Lys Lys Arg Lys Val Gly (SEQ ID NO:2), to make an expressed chimeric protein localizing intranuclearly. On the other hand, the carboxyl terminus of them was sequenced influenza hemagglutinin epitope, Tyr Pro Tyr Asp Val Pro Asp Tyr Ala (SEQ ID NO:3) and stop codon for translation in this order, to detect an expressed fused protein tagged epitope sequence.  
      According to the comparison of human PPAR structures described in the literatures by R. Mukherjee et al. (See  J Steroid Biochem. Molec. Biol.,  51 157 (1994)), M. E. Green et al., (See  Gene Expression.,  4, 281 (1995)), A. Elbrecht et al. (See  Biochem Biophys. Res. Commun.,  224, 431 (1996)) or A. Schmidt et al. (See  Mol Endocrinology.,  6, 1634 (1992)), the portion of structural gene used as ligand binding domain of human PPAR α, γ or δ was DNA encoding the following peptide:  
      human PPAR α ligand binding domain: Ser 167 -Tyr 468    
      human PPAR γ ligand binding domain: Ser 176 -Tyr 478    
      human PPAR δ ligand binding domain: Ser 139 -Tyr 441  (each human PPAR γ1 ligand binding domain and human PPAR γ2 ligand binding domain is Ser 204 -Tyr 506  which is identical sequence each other). In order to measure basal level of transcription, an expression vector containing DNA binding domain of Gal4 protein lacking in PPAR ligand binding domain, which is exclusively encoding the 1st to 147th amino acid sequence in Gal4 protein was also prepared.  
      (2) Luciferase Assay Using Human PPAR α, γ or δ  
      CV-1 cells used as host cells were cultured by a conventional technique. That is to say, Dulbecco&#39;s modified Eagle medium (DMEM) supplemented 10% bovine fetal serum (GIBCO BRL Inc., catalogue No. 26140-061) and 50 U/ ml of penicillin G and 50 μg / ml of streptomycin sulfate were used to culture CV-1 cells under the atmosphere of 5% carbon dioxide gas at 37° C.  
      In case of the transfection for introducing DNA, both reporter gene and Gal4-PPAR expression vector, into host cells, 2×10 6  cells were seeded in a 10 cm dish, and once washed with the medium without serum, followed by addition of the medium (10 ml) thereto. Reporter gene (10 μg), Gal4-PPAR expression vector (0.5 μg) and 50 μl of LipofectAMINE (GIBRO BRL Inc., catalogue No. 18324-012) were well mixed and added to the culture dishes. They were cultured at 37° C. for 5 to 6 hours, and thereto was added 10 ml of medium containing 20% of dialyzed bovine fetal serum (GIBRO BRL Inc., catalogue No. 26300-061), and then cultured at 37° C. overnight. The cells were dispersed by trypsin treatment, and they were again seeded in 96-well plates in a density of 8000 cells/100 μl of DMEM-10% dialyzed serum/well. Several hours after the cultivation, when cells were attached to the plastic ware, then 100 μl of DMEM-10% dialyzed serum containing the compounds of the present invention, whose concentration is twice as high as the final concentration of them, was added thereto. The culture was settled at 37° C. for 42 hours and the cells were dissolved to measure luciferase activity according to manufacturer&#39;s instruction.  
      In addition, the relative activity of the compounds of the present invention (10 μM) was measured under the condition that luciferase activity was defined as 1.0 in case of carbacyclin (10 μM) as a positive control compound, which could activate transcription of luciferase gene significantly to PPAR α (See  Eur. J Biochem.,  233, 242 (1996);  Genes  &amp;  Development.,  10, 974 (1996)).  
      Also, the relative activity of the compounds of the present invention (10 μM) was measured under the condition that luciferase activity was defined as 1.0 in case of troglitazone (10 μM) as a positive control compound, which could activate transcription of luciferase gene significantly to PPAR γ (See  Cell.,  83, 863 (1995);  Endocrinology.,  137, 4189 (1996) and  J Med. Chem.,  39, 665 (1996)) and has been already launched as hypoglycemic agent.  
      As to PPAR δ activity, the relative activity of the compounds of the present invention was measured under the condition that luciferase activity was defined as 1.0 in case of addition of only solvent without the compounds.  
      As a result, the compounds of the present invention showed superior agonistic activity against, particularly, PPAR δ.  
      Lowering Effect of Blood Cholesterol and Blood Lipid (1):  
      Male, 6-weeks old SD rats (five rats per group) were brought in, fed pellet diet (CRF-1, oriental bio service) and tap water ad libitum in single cages for one week and habituated. Next, high cholesterol diet (CRF-1 pellet diet mixed of 5.5% peanut oil, 1.5% cholesterol and 0.5% cholic acid, oriental bio service) began to load the rats for one week.  
      After one week of the load, body weight of fasted rat was measured in the morning (a.m. 9:00- a.m. 11:00) at the current day of dividing group (Day 0). Next, blood samples were collected from coccygeal vein and various parameters in plasma were measured. The measurement items were low density lipoprotein (LDL), high density lipoprotein (HDL), neutral fat (triglyceride (TG) level), non-esterified fatty acid (NFEA), and total cholesterol (TC) level. Based on HDL concentration, rats were divided into some groups (five rats per group). The body weight of rats were measured in the morning of the next day (1st day) of dividing groups and the compounds were compellingly orally administered into rats once a day for six days in a row and loads of high cholesterol diet were continued. The compounds of the present invention were dissolved by 0.5% methyl cellulose (MC) aqueous solution and then the administration solution was orally administered.  
      In the morning of the 1st and 4th day of onset of administration and the next day of final administration termination, food intakes were measured to calculate average food intakes. In addition, in the next day of final administration termination, blood samples were collected from coccygeal vein to measure the blood lipid (TG, HDL, LDL, NEFA, TC level) after administration of the compound of the present invention. Additionally, food intakes were not significantly different from control group (administration only 0.5% MC) and administration of the compound of the present invention group.  
      As a result, the compound of the present invention raised HDL depending on dose, and lowered LDL. Therefore, the compounds of the present invention are useful for therapeutic agent for hyperlipidemia.  
      Hypoglycemic and Hypolipidemic Effects (2):  
      3 to 4-years old male cynomolgus monkeys (mean body weight: approximately 3 kg) were bought and all animals having legal medical inspection were performed a medical inspection and habituated in the period of more than one month. The animals were housed individually in monkey cages and fed approximately 100 g of pellet diet once a day. On habituation proceeding, animals came to finish feeding diet within an hour everyday. In addition, animals ingested tap water from automatic water supplying equipment ad libitum. Next, animals were pre-bred and 14 days and 2 weeks and 1 week before the test, the body weight of animals was measured, and then blood samples were collected from hindlimb saphenous vein to execute hematological test (measurement of the number of red blood cells, hematocrit, hemoglobin content, the number of platelets and the number of leukocytes) and blood biochemical test (measurement of GOT, GPT, alkaline phosphatase, total protein, blood urea nitrogen, creatinine, creatinine kinase, total bilirubin, blood glucose, total cholesterol, HDL, LDL and TG). Additionally, a general condition of animals is observed and individuals well grown during habituation and pre-breeding were selected to be used for test. Also, food intakes of all animals were measured everyday including the period of pre-breeding.  
      On the basis of body weight measured on final day of habituation period, each animals were divided into some groups (three animals pre group) using a stratified randomization method. In the morning of 1st, 3rd, 7th, 10th and 14th day of administration onset, body weight of animals was measured and administration volumes of the compounds of the present invention were calculated based on the latest body weight. The drug solution including diluted solution or the compounds of the present invention (3-100 mg/kg/day) was nasally intragastric administered into animals with nutrition catheters and syringes once a day for 14 days iteratively. On 1st, 7th, and 14th day after the administration onset, blood samples were collected before administration of the compounds of the present invention to measure the above-mentioned hematological test and blood biochemical test. It confirmed that the compounds of the present invention were not effect blood glucose. In addition, three weeks before, and 14th days after administration onset, blood sample were collected from hindlimb saphenous vein or antebrachial vein at 1, 2 and 4 hours after administration, and at 1, 2 and 3 hours after feeding a diet, to measure blood glucose, total cholesterol, HDL, LDL and TG.  
      As a result, the compounds of the invention showed lowering effect of TG level in plasma, TC value and LDL value during fasting state. Additionally, the compounds of the present invention showed inhibitory effect of TG rising after feeding diets. Therefore, the compounds of the invention are useful for therapeutic agent for hyperlipidemia.  
      It is suggested that the lowering effect of plasma TG levels in fasted normal cynomolgus monkeys has possibility as the preventing and/or therapeutic agent for hyperlipidemia and atherosclerosis and so on. It is also observed in inhibitory effect on TG rising postprandial. Additionally, it can be estimated whether compounds have a toxicity change or not from other blood biochemical parameters.  
     Preparation Example 1  
      The following components were admixed in a conventional method, punched out to give 10000 tablets each containing 10 mg of active ingredient.  
                                                          [3′-({(2E)-3-[4-(Trifluoromethyl)phenyl]-2-pro-   100   g           pen-l-yl}oxy)biphenyl-3-yl]acetic acid           Carboxymethylcellulosecalcium (disintegrant)   4   g           Magnesium stearate (lubricant)   2   g           Microcrystalline cellulose   94   g                      
 
     Preparation Example 2  
      After mixing the following components by a conventional method, the resulting solution was filtrated by dust-proof filter and 5 ml portions thereof were filled in ampuls, respectively, and heat-sterilized by autoclave to obtain 10000 ampuls of injection containing each 20 mg of the active ingredient.  
                                                          [3′-({(2E)-3-[4-(Trifluoromethyl)phenyl]-2-pro-   200   g           pen-l-yl}oxy)biphenyl-3-yl]acetic acid           Mannitol   2   kg           Distilled water   50   L