Drug development company Vascular Biogenics Ltd. (also known as VBL Therapeutics) has just begun a Phase II clinical trial to evaluate its lead compound VB-201 for the treatment of patients with psoriasis. This is its first-ever trial of a product.

Until now VBL has focused on developing treatments for the inflammation of arteries.

The change of direction has come about, firstly because of good results in the Phase I trial for the psoriasis treatment. VB-201 is poised to be a first-in-class, orally-administered immune response modifier expected to reduce inflammation in a broad range of conditions including psoriasis. VB-201 successfully completed four Phase I clinical trials involving 120 subjects under a US investigational new drug (IND) application. The Phase I trials demonstrated that VB-201 was well tolerated with a favorable safety profile. Preclinical studies indicate that VB-201 has significant potential to treat inflammation in chronic diseases such as psoriasis, rheumatoid arthritis, multiple sclerosis and inflammatory bowel disease, and also found to bring about regression of atherosclerosis

Founded in 2000, the company was selected as "Globes" third most promising start-up in 2008 and is considered one of Israel's leading drug development companies.

The company has raised $76 million to date including $40 million in a major fund raising round in 2008. Investors include Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA), US pharmaceutical firm Merck, Mori Arkin through Aurum Ventures MKI Ltd., GlenRock Israel, Pitango Venture Capital, Kadima High-Tech, A. Heifetz Technologies Ltd., Dalia Prashker, Max Herzberg, and Zeev Moses.

Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2010

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