Drug developer Pharma Two B Ltd. has raised $8 million in its second financing round from JK&B Capital, Crossroad (managed by Allegro Sarl), and private investor Michael Mittelman. The company will use the proceeds to continue the development of its P2B001 drug for the treatment of Parkinson’s disease, and complete the pivotal Phase IIb clinical trial under US Food and Drug Administration (FDA) protocols.
Pharma Two B, based in Rehovot, develops fixed-dose-combination drugs, which combine two or more drugs with complementary and synergistic effects
Pharma Two chairman Ehud Marom, “Our second round will cover our financial needs up to 2015, at which point in time we will start receiving royalties from our generic product portfolio."
P2B001 is designed to treat early-stage Parkinson’s disease. The main current treatment is Levodopa.
Published by Globes [online], Israel business news - www.globes-online.com - on October 23, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012