PamBio, graduate of the Nazareth-based incubator NGT3, raised $7 million from a private investor. The company, which has developed a treatment for hemorrhagic stroke and other kinds of bleeding, was founded by entrepreneur Prof. Abd Higazi, head of the Division of Laboratories & Department of Clinical Biochemistry at Jerusalem's Hadassah Hospital and his spouse Dr. Nuha Higazi, a doctor of neurology, with the support of Hadasit, the Technology Transfer Company of the Hadassah University Hospitals. Since its founding in August 2014, $3 million have been invested in the company by NGT3 and the Office of the Chief Scientist.
Higazi says that the company has developed in two stages, "our first discovery revolved around the fact that after brain damage occurs, whether due to a stroke or head injury, a process takes place in which the initial brain damage expands, exactly as if the brain cells are signaling one another to die. What takes place in fact is that the cells spill their contents and materials from cells, intended to enable communication between cells, are also spilled and attach to healthy cells, which they cause to over-stimulate.
"We have discovered that a part of this activity depends on an activator agent named TPA. If brain damage occurs in mice genetically engineered not to produce TPA, it remains smaller, more limited, compared with mice with TPA."
But isn't TPA a form of stroke treatment?
Yes, this agent is given to prevent coagulation in cases of ischemic stroke. And it is indeed effective. However, it also makes brain damage expansion possible. In case of ischemic stroke, the TPA does more good than harm. However, in cases of hemorrhagic stroke, rather than a stroke caused by blood vessel blockage, or in case of a head injury, the TPA is unnecessary. In our labs, we developed a mutated, inactive, TPA which can compete with the active TPA in the body and prevent it from doing damage. This is the agent our treatment is based on."
As such, TPA also prevents brain blood clots. "3-4 years after our first patent, we came with the second patent. If TPA does damage blood clots, which is the reason it is used in ischemic strokes, perhaps a TPA antidote, such as the one we developed, can help prevent bleeding throughout the body. There is currently no good treatment for bleeding. Drugs enhancing coagulation such as Novo Nordisk's Factor VIIa, are at risk of facilitating blood clots in undesired locations, such as the brain or lungs. Our product does not cause blood clots to appear spontaneously, but it does prevent TPA from breaking down blood clots created by the body selectively in desired locations."
How did you come to found a company with your wife?
During the founding of the company we worked together in Hadassah but we have always had in-depth discussions and brainstormed about work at home. When we met, she was a construction engineering student but she shifted to the life sciences. Perhaps this happened because she was exposed to my work, but she will not admit it."
Abd and Nuha are continuing to work together in PamBio. The company will first focus on indications of a treatment for hemorrhagic stroke. This is a brave decision, since many drugs in the field have tried and failed and there is no treatment at present. The product is expected to enter clinical trials in 2019.
PamBio's investor, who chose to remain anonymous, is an experienced private pharma investor. Other than capital, he also owns an advanced development facility and manpower that can support the drug's development.
PamBio CEO Amos Ofer says, "Pharma projects are diverse, long and expensive and the shift from a lab-scale product to a product suitable for clinical trials is complex and full of obstacles. Joining forces with the investor will enable us to get through the next stage in the best manner possible. There is no other person such as this in Israel."
NGT CEO Zohar Gendler remarks, "Raising such a sum is a significant achievement for a new pharma company with three years until its first clinical trials. This fund raising proves NGT3's ability to rapidly produce high value for new medical companies."
Published by Globes [online], Israel business news - www.globes-online.com - on July 18, 2016
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