Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) has licensed novel technology from Yeda R&D Company Ltd., the technology transfer arm of the Weizmann Institute of Science, for the development of long-acting therapeutic peptides and small molecules, called Reversible PEGylation. The agreement will improve Prolor's capabilities to develop long-acting peptide and small molecule drugs. The technology will complement the company's core CTP platform for extending the duration of therapeutic proteins and peptides to possibly create long-acting drugs.
Animal studies found this technology to significantly enhance the half-life and improve the biological activity of a variety of peptides and small molecules, including peptides associated with appetite suppression, blood pressure controlling hormone, and antibiotic drug gentamicin.
Until now, Prolor has been operating under a limited option-to-license agreement from Yeda to use the technology to develop a long-acting oxyntomodulin peptide for the treatment of obesity. The new agreement covers all treatments, with the exception of hemophilia and insulin.
Prolor chairman Dr. Phillip Frost said, "This license from the prestigious Weizmann Institute of Science represents an exciting opportunity for Prolor. It complements our core platform and expands our pipeline of competitive long-acting therapeutic drug candidates to include new, important clinical indications."
Prolor's share price reversed early gains on the TASE to fall 3.2% 22.38 by the close. The share price rose 3.2% at the opening on the American Stock Exchange to $6.39, giving a market cap of $331 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 18, 2011
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