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.
SOURCE D-Pharm Ltd