The company plans to use the proceeds to expand the development of its products, including a treatment for migraines, manic depression, and epilepsy.
Drug development company D-Pharm Ltd. (TASE: DPRM) is examining various alternatives for raising NIS 23 million. The company plans to use the proceeds to expand the development of its products, including DP-VPA, a treatment for migraines, manic depression, and epilepsy.
D-Pharm added that it is making progress in the Phase III clinical trial of DP-b99 treatment for ischemic strokes. Two weeks ago, the company obtained Special Protocol Assessment (SPA) from the US Food and Drug Administration (FDA) for the trial.
Clal Biotechnology Industries Ltd. (TASE: CBI) owns 46.6% of D-Pharm. D-Pharm's share price fell 1.1% by mid-afternoon to NIS 24.47, giving a market cap of NIS 524 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 25, 2010
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