D-Pharm Secures Funding From Israel's Chief Scientist's Office

Apr 07, 2008, 01:00 ET from D-Pharm Ltd

    REHOVOT, Israel, April 7 /PRNewswire/ -- D-Pharm announced today that
 it received notice from Israel's Chief Scientist's Office (CSO) of its
 commitment to match expenditures on four of D-Pharm's R&D programs with a
 total grant of up to NIS 11 million (over $3 million).
     Alex Kozak, PhD, CEO and President of D-Pharm, said "We are grateful to
 the CSO for this vote of confidence and its firm support over the years,
 from the time of the company's inception as a technological incubator. The
 CSO's backing has helped us to build a robust pipeline with two advanced
 clinical stage products in stroke (DP-b99) and epilepsy and migraine
 (DP-VPA) followed by an exciting range of preclinical developments in
 Alzheimer's disease, cancer and psoriasis".
     D-Pharm's drug-development programs emerged from the company's unique
 platform technology of lipid-like medicine. The CSO grant supports four
 major company developments: GMP production of DP-b99 in-house, IND
 preparations and initiation of a pivotal Phase III trial in stroke
 patients; a Phase II migraine study of DP-VPA in Israeli medical centers;
 and two preclinical programs, DP-460 for Alzheimer's disease and
 LipidoMimetix for cancer.
     The Chief Scientist's Office has supported D-Pharm since its
 establishment, providing grants of about $18 million, excluding this latest
     About D-Pharm Ltd.
     D-Pharm (www.dpharm.com) is clinical stage biopharmaceutical company
 pioneering the development of lipid-like therapeutics and has generated a
 rich pipeline of patent protected proprietary products. D-Pharm's pipeline
 includes advanced clinical stage products DP-b99 for treatment of acute
 ischemic stroke patients and DP-VPA, a novel drug for treatment of
 epilepsy, bipolar disorder and prophylaxis of migraine. D-Pharm recently
 received Israeli health ministry approval to commence a Phase II study of
 DP-VPA in migraine patients. DP-460 is in preclinical development intended
 as an oral, disease-modifying therapy for Alzheimer's disease. Other mimics
 of bioactive lipids, LipidoMimetix, are at an earlier developmental stage,
 for cancer. D-Pharm recently completed a $5 million rights issue to ensure
 timely commencement of the pivotal Phase III study of DP-b99, in acute
 stroke patients, as planned.
For further information please contact: Tami Horovitz, PhD. Tel: +972-8-9385100 Fax: +972-8-9300795 Email: thorovitz@dpharm.com

SOURCE D-Pharm Ltd