Prolor Biotech Inc. (Bulletin Board: PBTH) (formerly Modigene) is set to begin the Phase I clinical trial of its flagship product, a long-acting human growth hormone drug, hGH-CTP. The trial will be conducted at the Sourasky Medical Center - Ichilov Hospital in Tel Aviv
Prolor had earlier said that it hoped to complete trial before the end of 2009 and complete the Phase II trial by mid-2010. Prolor president Shai Novik said that the trial is on 24 healthy individuals to test the safety, tolerability, and pharmacokinetic and pharmacodynamic properties of the drug.
hGH-CTP aims to provide growth hormone deficient adults and children with the option to replace the multiple injections per week that are currently required with a once-weekly or bi-monthly injection.
A few months ago, Philip Frost's investment group invested $10 million in the company. The financing should be enough to last through 2011 without the need for more financing.
Prolor's share closed at $1.67 yesteday.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2009
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