PROLOR Biotech's Long-Acting Human Growth Hormone Awarded $1.7 Million Israeli ...
/PRNewswire/ -- PROLOR Biotech, Inc. (NYSE Amex: PBTH ), a company developing next generation biobetter therapeutic proteins, today announced that the Israeli Office of the Chief Scientist (OCS) has approved a 2011 grant to PROLOR's Israeli-based R&D subsidiary for the company's development program for hGH-CTP, its long-acting version of human growth hormone (hGH).The OCS approved a grant of to support PROLOR's hGH-CTP program for 2011.
hGH-CTP is PROLOR's proprietary biobetter version of human growth hormone. Human growth hormone is used for the long-term treatment of children and adults with growth hormone deficiency due to inadequate secretion of endogenous growth hormone. It is also sometimes used to counter involuntary weight loss and certain physical manifestations of aging. Currently available forms of hGH must be injected daily. Global sales of hGH products are estimated at about annually.
PROLOR recently reported positive results from a Phase II study of hGH-CTP in adults with growth hormone deficiency. The study showed that hGH-CTP has the potential to reduce the required hGH dosing frequency from the one injection per day required currently to a single weekly injection. The company is planning to initiate a Phase III trial of hGH-CTP in adults with growth hormone deficiency in 2012.
"This generous , Ph.D., Chief Executive Officer of PROLOR.
Under the terms of the grant, PROLOR is required to repay the OCS the sum of the grant plus accrued interest through a series of payments that would begin only when hGH-CTP or other products that PROLOR develops with its CTP technology begin to generate commercial revenues.
ABOUT PROLOR
PROLOR Biotech, Inc. is a clinical stage biopharmaceutical company applying unique technologies, including its patented CTP technology, primarily to develop longer-acting proprietary versions of already approved therapeutic proteins that currently generate billions of dollars in annual global sales. The CTP technology is applicable to virtually all proteins, and PROLOR is currently developing long-acting versions of human growth hormone, which is completing Phase II clinical development, as well as Factor VII, Factor IX, interferon beta, erythropoietin, an anti-obesity peptide and agents for atherosclerosis and rheumatoid arthritis, which are all in preclinical development. For more information, visit www.prolor-biotech.com .
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It is also sometimes used to counter involuntary weight loss and certain physical manifestations of aging. Currently available forms of hGH must be injected daily. Global sales of hGH products are estimated at about $3 billion annually.
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