Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) today reported positive results in a preclinical (animal) trial of its longer-acting version of the hemophilia drug Factor VIIa. The trial in hemophilic mice compared Prolor's CTP modified version of Factor VIIa with commercial versions of recombinant Factor VIIa.
Prolor's Factor VIIa-CTP showed a significantly longer half-life and duration of clotting activity compared with the commercial drug. Factor VIIa is used to treat acute bleeding episodes and to prevent bleeding in hemophilia A and hemophilia B patients who have developed inhibitors against treatment with either Factor VIII or Factor IX.
Prolor president Shai Novik said that the results were consistent with the results of a preclinical trial of the company's Factor IX-CTP longer-acting version of the coagulant Factor IX, announced earlier this year. "With the positive results from this Factor VIIa-CTP study, we now have what we believe are two highly competitive coagulation therapies in development that address a target market estimated at approximately $2 billion," he said.
Prolor CEO Abraham Havron added, "We believe there is great need among hemophilia patients and their physicians for new therapies that will provide prolonged protection from bleeding."
Prolor's share price rose 1% on the American Stock Exchange yesterday to $4.20, giving a market cap of $149 million, and rose 1.2% in afternoon trading on the TASE today to NIS 15.60.
Published by Globes [online], Israel business news - www.globes-online.com - on September 15, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011