REHOVOT, Israel, January 21, 2015 /PRNewswire/ --
D-Pharm Ltd (TASE: DPRM) announced today 21st January, 2015, successful completion of fundraising via a public rights issue, of 12.8M NIS in aggregate. D-Pharm's largest shareholder, CLAL Biotechnology (CBI), exercised all its rights to the tune of 8.7M NIS and a third of the total funds raised were from the public.
D-Pharm (http://www.dpharm.com) is a clinical-stage neuroscience company focused on the development of pioneering proprietary drugs for the treatment of CNS disorders. D-Pharm's pipeline includes three products in the Phase 2 clinical stage of development; namely, THR-18 for safe thrombolysis, DP-b99 for acute pancreatitis, and DP-VPA for epilepsy, as well as a preclinical development pipeline for misfolded protein disorders such as Alzheimer's disease, and other types of dementia.
THR-18 aims to improve the safety profile of tPA and allow the only approved, desperately needed, therapy to reach the majority of stroke patients. Late last year, D-Pharm reported on a successful Phase 2a study of THR-18 in acute ischemic stroke (AIS) patients treated with the clot-busting thrombolytic drug tPA. In that study THR-18 significantly (p<0.05) decreased the number of patients with brain swelling (edema) and intracranial hemorrhage (ICH). D-Pharm's VP Clinical Development, Gilad Rosenberg commented, "It's particularly encouraging that the reduced rate of edema seen in THR-18 treated patients is associated with almost double the number of patients without disability 30 days after AIS."
D-Pharm's CEO, Dr. Alex Kozak, added: "I'm very happy with this strong support from our shareholders. We are fully committed to development of our clinical-stage pipeline with THR-18 as our top priority. This drug stands to make a real impact on the number of stroke patients that will receive safe thrombolytic therapy. Successful completion of the fundraising will help prepare THR-18 for the coming critical stage of development through regulatory submissions for the next large-scale clinical study."
THR-18 in a new chemical entity, small synthetic peptide, related to a fragment of plasminogen activator inhibitor-1 (PAI-1), a natural inhibitor of tPA activity. THR-18 uncouples the clot-dissolving properties of tPA from its deleterious non-fibrinolytic effects on the blood vessel wall, including intracranial hemorrhage and brain edema, and leaves tPA's catalytic activity intact.
Statements in this press release that are not historical facts are forward-looking information, as defined in the Securities Law, based on information available to D-Pharm at the time of this press release. The estimations could, some or all, be unrealized, or could be realized in significantly different ways than expected.
For further information please contact:
Tami Horovitz Tel: +972-8-9385100 Fax: +972-8-9300795 Email: [email protected]
SOURCE D-Pharm Ltd