The company estimates that it will invest approximately $9 million to prove the clinical efficacy of BL-3030
Beauline R. X., the leading pharmaceutical development company in Israel, announced today that it has signed a global licensing agreement with B.G. Negev Technologies Ltd., the technology commercialization company of Ben Gurion University in the Negev, and with the Mor Research Application Ltd. company of Clalit Health Services For the development and commercialization of BL-3030, a new drug for the treatment of inflammatory diseases. BL-3030 was invented and developed by Professor Rachel Levy from Soroka University Medical Center and Ben Gurion University of the Negev, Beer Sheva. Beauline R. Ex. plans to develop the drug with the help of its subsidiary, Bioline Innovations Jerusalem. The development will be funded by a National Biotechnology Grant received from the Office of the Chief Scientist. Beauline R. Ex. It estimates that it will invest approximately $9 million to prove the clinical efficacy of BL-3030. The financial details of the agreement were not disclosed.
BL-3030 is a short antisense molecule specifically designed to treat inflammatory diseases. Antisense molecules are short artificial DNA sequences, designed to prevent the creation of a target protein. BL-3030 inhibits the production of a protein known as cytosolic phospholipase A2, (cPLA2), an enzyme that plays a vital role in the inflammatory process in several diseases such as rheumatoid arthritis, asthma and pulmonary distress syndrome (ARDS). In animal experiments cPLA2 inhibition has been shown to be effective in the treatment of a wide variety of inflammatory diseases. Experiments conducted by Prof. Rachel Levy and her group on cultured human cells and laboratory animals showed that BL-3030 inhibits both the amount and activity level of cPLA2, and is effective in the treatment of sterile peritonitis and rheumatoid arthritis. Beauline R. Ex. plans to continue developing the drug in the coming year, and to begin preclinical trials for BL-3030 at the end of 2007.
Today, the treatment of inflammatory diseases is by non-steroidal anti-inflammatory drugs (NSAIDs) or by administering steroids. These drugs have a limited effect and cause serious side effects that prevent long-term use. BL-3030 is expected to effectively treat a variety of inflammatory diseases currently treated by NSAIDs or steroids, without causing the harmful side effects.
"BL-3030 is a fascinating addition to Bioline R's rich and innovative drug pool. X., and we are happy to continue the fruitful collaboration with Ben Gurion University," said Dr. Maurice Lester, CEO of Bioline R. Ex. "This is the second drug we purchased from Ben Gurion University. The first drug was BL-1040, an injectable polymer for the treatment of myocardial infarction, which is expected to begin Phase 1-2 clinical trials in early 2007."
Dr. Ora Horowitz, VP of BG Negev Technologies added: "Professor Levy's invention is another example of the high level of scientific research conducted at Ben Gurion University and Soroka University Medical Center and its potential to improve the quality of medical care. We believe that the agreement with Bioline R. Ex. Brings us another step closer to realizing this potential."
Inflammation is a decisive factor in a variety of diseases that affect a significant part of the world's population. For example, rheumatoid arthritis is one of the most common and severe forms of rheumatism. It is a chronic autoimmune disease in which the body's immune system attacks the joint tissue, causing pain, inflammation, deformities and disability, sometimes permanently. In the US, more than 2 million people suffer from arthritis, and the expected market value in 2013 for drugs that treat arthritis is 9.5 billion dollars.
* Rachel Levy is a professor of biochemistry, currently serves as the head of the basic science division at the Faculty of Health Sciences at Ben Gurion University, and is director of an infectious diseases laboratory at the Soroka University Medical Center. The invention was developed by Professor Levy following years of in-depth research focused on the body's defense mechanisms against infections and inflammations. She and her group mainly concentrated on the study of the biochemical pathways responsible for inflammatory processes, the understanding of which led to the development of an effective treatment for inflammation.
About b. third. Negev Technologies Ltd
BG Negev, the technology commercialization company of Ben Gurion University, is the body that links industry and the university's applied academic research. The BG Negev company "translates" the inventions and academic achievements of university researchers into products of commercial value. The B.G. company Negev offers industry inventions in the fields of pharmaceuticals and biotechnology, medical devices, information systems and information security, electro-optics, nanotechnology, materials and processes, agro-technologies, desalination and water treatment, environment and energy. More information can be obtained at www.bgu.ac.il/bgn .
About Moore application studies
More research application is the company for the application of technologies of general health services. The company is engaged in the management and commercialization of inventions and patents resulting from studies conducted by researchers and doctors of Kelalit health services. The Mor company enables Klalit to realize its strategic goal of encouraging and promoting research conducted by Klalit's medical team. Such studies are part of the quality infrastructure that contributes to the training of experienced and updated doctors and to improved health services. Klalit Health Services is the largest health organization in Israel. Klalit insures three and a half million of Israel's six million residents. In total, there are 15 hospitals, all of which cooperate with leading universities, and 1250 clinics.
About Beauline R. Ex.
Bioline R. Ex. Founded in 2003 by leading parties in the field of life sciences in Israel, including Teva, Giza, Pitango, Star, Hadassit, and the Jerusalem Development Authority. The company focuses on the development of a wide variety of drugs with healing potential, from the detection stage, through licensing, research, and advanced development to the stage of clinical trials and up to the commercialization and marketing of the drugs. Beauline R. Ex. Cooperates with researchers and scientists in the academy as well as with biotechnology companies in order to promote the commercialization of promising medicines. The uniqueness of Beauline R. Ex. lies in its ability to provide a rich pool of technologies to international pharmaceutical companies, which are looking for breakthroughs in drug development. More information can be obtained on the company's website: www.biolinerx.com.
