RedHill is currently conducting a Phase II trial of RHB-104 in the US and a Phase III trial in Europe.
RedHill Biopharma Ltd. (TASE: RDHL) has expanded the Phase II/III clinical trial of RHB-104 for the treatment of Crohn's Disease on people who carry the mycobacterium avium paratuberculosis (MAP) bacteria, a suspected trigger of the disease.. The company has signed an agreement with a contract research organization (CRO) to conduct two pivotal clinical trials to test the safety and efficacy of the drug.
RedHill is currently conducting a Phase II trial of RHB-104 in the US and a Phase III trial in Europe. The two planned parallel trials are for a late Phase II/III trial in the US and a Phase III trial in Europe. The purpose of the additional trials is to support applications for marketing approval in the US and Europe as quickly as possible.
The company estimates the cost of the trials at $11-13 million. It believes that it has the wherewithal to finance the trials.
RedHill's share price fell 0.9% by midday to NIS 2.87, giving a market cap of NIS 149 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2011
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