Sources inform "Globes" that drug improvement company Pharma Two B Ltd. is considering raising several million dollars in an IPO on the Tel Aviv Stock Exchange (TASE).

The company develops and improves existing approved drugs based on fixed-dose-combinations of two or more drugs with complementary and synergistic effects, which provide high clinical value and shorter paths to regulatory approval. Pharma Two B declined to comment.

Based in Rehovot, the company believes its improved product for the treatment of Parkinson's disease will begin clinical trials in 2011, while a cancer treatment product will enter clinical trials in 2012.

The company was founded by chairman Ehud Marom and Dr. Yoram Sela. Sela is on the board of directors. Marom is a former senior executive at Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) and Makhteshim Agan Industries Ltd. (TASE: MAIN) and was CEO of Gamida Cell Ltd..

Published by Globes, Israel business news - www.globes-online.com - on September 28, 2010

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