The British drug development company is based on technology developed at the Hebrew University.
British drug development company Morria Biopharmaceuticals plc today announced that it plans to hold an IPO on the TASE. The company is based on technology developed at the Hebrew University of Jerusalem.
Morria will reportedly try to raise NIS 20 million at a company value of NIS 90 million, before money.
Morria is developing multi-functional anti-inflammatory drugs (MFAIDs) as alternatives to corticosteroids for the treatment of inflammatory diseases. The company has five drugs in development, two of which completed Phase II clinical trials: MRX-4 for allergic rhinitis (hay fever) and MRX-6 for contact dermatitis. Drugs in preclinical trials are MRX-5 for inflammatory bowel disease, MCF for cystic fibrosis, and PRX for allergic conjunctivitis and dry eye disease.
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2011
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