FDA approves Thrombotech stroke study

Thrombotech will extend its Phase IIa safety trial of its stroke treatment to the US.

Thrombotech Ltd. has obtained US Food and Drug Administration (FDA) approval for a Phase IIa clinical trial of THR-18, its treatment for ischemic stroke by destroying blood clots. The trial, to be conducted in the US, will test the safety of the drug.

Thrombotech began the clinical trial at Hadassah Medical Center in Jerusalem and Sourasky Medical Center (Ichilov Hospital) in Tel Aviv. The company is waiting to receive regulatory permits for trials in Europe and India.

"Global Data" estimates the global market for stroke medication at $2.8 billion in 2008, and that it will grow by 3.4% a year through 2015.

Clal Biotechnology Industries Ltd. (TASE: CBI) owns 46% of Thromobotech, Hadasit Bio Holdings Ltd. (TASE:HDST) owns 24%, and Ofer Hi Tech Ltd. owns 29%.

Hadasit Bio's share price rose 9.8% in morning trading to NIS 0.56, giving a market cap of NIS 49 million, and Clal Biotech's share price rose 1.6% to NIS 12.95, giving a market cap of NIS 1.3 billion.

Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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