Bio Light Israeli Life Sciences Investments Ltd. (TASE:BOLT) subsidiary Allergica Ltd. has signed an agreement with Lovelace Respiratory Research Institute (LRRI) of the US, under which LRRI will provide Allergica with development services for an inhaleable version of its drug, and support both preclinical animal trials and human safety and feasibility clinical trials before submitting data to the US Food and Drug Administration (FDA).
LRRI is a non-profit organization with over 500 employees. It is considered the top organization for the development of drugs and medical devices for respiratory diseases in general, and asthma in particular.
Bio Light, which fully owns Allergica, estimates the cost of animal trials at $200,000, and the cost of feasibility human trials (prior to clinical trials with the FDA) at $1.5-2 million. Most of these costs will be paid to LRRI.
Allergica plans to begin human clinical trials within 18 months from the start of the program. At the same time, it is seeking a partner to develop a version of its product to treat skin allegeries.
Allergica is developing a drug aimed at local administration for blocking initial allergic reactions, the excretion of allergy causing substances, such as histamines, from mast cells found in the pulmonary, skin and digestive systems. The drug is based on research by Prof. Ronit Sagi Eisenberg of Tel Aviv University.
Published by Globes [online], Israel business news - www.globes.co.il - on May 10, 2006
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