Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) today announced positive results in a preclinical trial of MOD-6030, its long-acting obesity/Type II diabetes drug. The trial found that once weekly injections of the drug were effective in reducing weight in obese mice, reduced blood glucose levels, increased insulin sensitivity, and reduced cholesterol levels compared with the mice that received a placebo.
Prolor will present the results at the GTC 5th Diabetes Drug Discovery and Development Conference in Boston on Wednesday.
The mice which received MOD-6030 achieved an average weight loss of 28%, reduced their food intake by an average of 29%, had an average 19% reduction in blood glucose levels and a 57% reduction in cholesterol levels. The weight loss was specifically due to reductions in body fat. The mice which received the placebo showed minimal changes in the study parameters.
Prolor CEO Dr. Abraham Havron said, "We believe there is great demand among obese patients and their physicians for therapies that will help patients lose weight and reduce elevated glucose levels resulting from obesity with minimal side effects and a favorable administration profile. In this study in animals, our MOD-6030 therapy demonstrated a unique combination of achieving substantial weight loss and improved glycemic profiles while also significantly lowering cholesterol levels.'
Havron added, "MOD-6030 is a long-acting version of a native peptide that acts as a natural satiety signal to reduce food intake, and we believe it has the potential be a major new treatment for obesity and Type II diabetes that is both effective and safe. We are currently on track to initiate the first human clinical trial of MOD-6030 in 2013."
Prolor's share price rose 7.7% by mid-afternoon on the TASE today to NIS 21.84, after 7.9% on the American Stock Exchange yesterday to $5.47, giving a market cap of $300 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 17, 2012
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