Hadasit Bio-Holdings

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BioMarCare's $900k BIRD grant approved

Apr. 5, 2012

Link to Hebrew immediate report

Hadasit Bio holdings Ltd. is pleased to announce that one of its portfolio companies, BioMarCare Technologies Inc. ("BioMarCare “) has received a final approval from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation to support BioMarCare’s partnership with Ariadne Inc. by granting approximately 900 thousand dollars for the collaboration.
The companies intend to develop a panel of biological markers (bio - markers) that will predict response or lack of response to drugs based on inhibitors of the EGF receptor, which is an active receptors on the cell wall. These drugs include drugs like ERBITUX for colon cancer patients.
According to the agreement between the companies, BioMarCare will develop the test while conducting a clinical trial in Israel at the Hadassah Ein Kerem Hospital. BioMarCare has also notified Hadasit Bio-Holdings Ltd. that it plans to expand its clinical trial to include the Rambam Medical center, after having received the approval of the Helsinki Committee there.
Following a successful completion of the development stage, Ariadne will be responsible for the more comprehensive clinical trials, regulatory approval and product launch in the U.S.. BioMarCare reserves the right to commercialize the product in Europe.
The field of diagnostics, especially those designed to detect cancer early, is in constant growth, as well as the increasing trend to integrate bio - markers into drug development activities. These bio-markers allow for a more effective treatment that can be adjusted for every individual patient (Personalized Medicine). Biological markers (bio - markers), allow to locate and track the progress of disease and treatment in a patient on an individual basis, so that the use of these markers may increase the efficacy, reduce side effects associated with it and save money in health systems.
Joint venture parties have owners in common property rights arising as arising, joint development. The parties decide that they will discuss the commercial agreements for research fruits with advanced milestone arrival.
The Company wishes to clarify that the experiment is at a relatively preliminary stage, and in accordance with the Company v not predict the success of the experiment, if any, and the date when it will happen.

Sincerely,

Hadasit Bio - Holdings Ltd.

 
 

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