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Cancer treatment developer GammaCan raised $6.5 million March 6, 2007

Posted by israelhealthcare in Drug Discovery.
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GammaCan, a developer of novel immunotherapies to treat cancer, raised $6.5 million in a private placement with a group of investors lead by T.R. Winston & Company.

“These funds will enable us to continue the development of VitiGam for the treatment of Stage III and Stage IV melanoma,” said Patrick Schnegelsberg, CEO.

GammaCan develops innovative immunotherapy and related approaches to treat cancer. GammaCan is planning to submit its Investigational New Drug Application (IND) for VitiGam to the FDA in the near future. The Company is expecting to commence human clinical trials shortly thereafter.

VitiGam is a first-in-class IgG-based anti-cancer immunotherapy being developed for the treatment of Stage III and Stage IV melanoma. VitiGam is an IgG-based product manufactured from the plasma of donors with Vitiligo, a benign skin condition affecting up to 2% of the general population.

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Pharmos acquired drug developer company Vela Pharmaceuticals October 26, 2006

Posted by israelhealthcare in Drug Discovery.
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Pharmos has entered into a definitive agreement to acquire Vela Pharmaceuticals, a privately owned company specializing in the development of medicines related to diseases of the nervous system, for about $19.2 million in cash and stocks.

This acquisition is a strategic and significant step forward in broadening our pipeline with later stage products targeting important unmet needs,” said Haim Aviv, Ph.D., Chairman and CEO of Pharmos. “In particular, dextofisopam for IBS, the leading Phase 2 clinical asset acquired, combined with cannabinor, our phase 2a CB2-selective compound, provide our pipeline with the critical mass necessary to grow shareholder value.”

Dextofisopam, the leading asset acquired by Pharmos in the transaction, is a promising and innovative new drug with positive Phase 2a data for the treatment of diarrhea-predominant and alternating-type irritable bowel syndrome (IBS). IBS is a chronic, recurring condition with symptoms that affect roughly 10% of American adults and is two to three times more prevalent in women than in men.

At the closing of its acquisition of Vela, Pharmos issued 6.5 million shares to Vela shareholders and paid $6.2 million in cash. Additional shares and cash are to be issued to Vela’s existing shareholders in connection with the completion of stipulated milestones for development of dextofisopam.

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D-Pharm Raises $10 Million Clal Biotechnology, Israel Healthcare Ventures & Pitango May 15, 2006

Posted by israelhealthcare in Drug Discovery.
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Biopharmaceutical Company D-Pharm has raised $10 million in a private round of financing. The round was led by Clal Biotechnology Industries, Israel Healthcare Ventures Pitango Venture Capital, and existing investors: Care Capital, Gemini, and Polar Communications.

“These resources will enable us to fund the further development of our main product, DP-b99 for acute stroke currently in Phase 2 clinical trials, as well as to complete pre-clinical development of our lead candidate for Alzheimer’s disease,” said Dr. Alexander Kozak, D-Pharm’s Founder, Chief Executive Officer and President.

Established in April 1993 by Dr. Alex Kozak, D-Pharm is a specialty pharmaceutical company that designs and develops innovative drugs for the treatment of the most devastating brain disorders. The Company’s offices, research and development laboratories and pilot manufacturing plant are located in the Kiryat Weizmann Science Park in Nes Ziona, Israel.