Omrix Biopharmaceuticals Ltd. (Nasdaq:OMRI) today announced positive results of the Phase I clinical trial of its Fibrin Patch, which was found safe as an adjunct to hemostasis.
The trial was conducted in Israel and enrolled ten eligible patients undergoing elective partial nephrectomy (removal of a kidney). The Fibrin Patch was used as an adjunct to hemostasis after attempts to control bleeding with conventional surgical techniques had been made. No adverse reactions attributable to the product were observed.
Omrix president and CEO Robert Taub said that the company planned to begin a clinical trial in US during the first quarter of 2008, pending US Food and Drug Administration (FDA) clearance of the company application, which it will file this quarter.
Omrix has jointly develop the Fibrin Patch with Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon Inc., which distributes Omrix products in the US. The Firbin patch contains proprietary biologics which form an instant clot when they come in contact with blood. It is intended to rapidly manage the whole spectrum of bleeding, from mild to potentially life threatening severe bleeding.
Omrix has a market cap of $627 million. In August, the company obtained FDA marketing approval for Evithrom, a human thrombin hemostasis surgical sealant. The capital market is now waiting to see whether the product can penetrate the market.
Published by Globes [online], Israel business news - www.globes.co.il - on October 17, 2007
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