Nine of the current participants in the Phase I clinical trial developed no serious adverse events, and their tumors did not spread.
BioCancell Therapeutics Ltd. (TASE:BICL) says safety trials of its cancer drug is making progress. At a Spanish National Cancer Research Center (CNIO) conference yesterday, the company said interim results of its Phase I clinical trial indicated that nine of the current participants in the trial developed no serious adverse events, and their tumors did not spread. Fifteen patients are needed altogether for the trial.
BioCancell is developing a targeted cancer treatment. BioCancell CSO Prof. Avraham Hochberg founded the company at Hebrew University of Jerusalem. He discovered that the H-19 gene is expressed in high levels in 33 types of cancer cells. Using the gene as an indicator, BioCancell can identify cancerous cells and insert diphtheria toxin into them. The toxin only affects the cancerous cell and has no effect on healthy ones.
BioCancell went public during the second Lebanon war at a company value of NIS 57 million. Although the share rose after yesterday’s announcement, the share is still 9% below its IPO price.
Published by Globes [online], Israel business news - www.globes.co.il - on October 9, 2006
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