Thrombotech Ltd. has raised $1.4 million to finance the completion of clinical trial of its treatment for strokes, and establish collaborations with pharmaceutical companies.
Thrombotech is developing a peptide, THR-18, which allows current thrombolytic stroke medication to easily dissolve blood clots, diminishing life-threatening side effects and improving its efficacy. The company plans to conduct a Phase II clinical trial at three hospitals in Israel to test the efficacy of the drug, and a Phase IIa trial in Europe and India. The Phase I clinical trial in Israel showed the drug to be safe and without side effects.
Thrombotech is seeking collaborations with international companies for the subsequent clinical development of the drug and expand its uses.
Hadasit Bio Holdings Ltd. (TASE:HDST) invested $350,000 in the financing round, which will give it a 25% stake in the company. Clal Biotechnology Industries Ltd. (TASE: CBI) owns 42% of the company.
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2012
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