And From Globes:
Pharmos: Marijuana Analog We
Developed Benefits Brain Injured
Patients
By Ora Koren and Adi Mendelson
Pharmos announced today that it would present
the clinical trial results of Dexanabinol, a drug
the company has developed., at the Congress of
Neurological Surgeons' Conference in Seattle, in
the US this week. The trials were carried out on
sixty-seven severe head trauma patients.
The company said the results of clinical trials
showed a significant reduction in intracranial
pressure and a 26% reduction in mortality.
Moreover, a higher percentage of patients who
received the drug resumed a normal life following
treatment with the drug, compared to patients
not treated with it.
Pharmos chairman and CEO Prof. Haim Aviv
said that the study results would enable clinical
trials to begin on a large number of patients in
the US and in Europe, as early as next year.
Dr Nachshon Knoller, a neurosurgeon at the
Sheba Medical Center in Israel and the study's
principal investigator, said that since there is no
drug currently available for such patients, huge
demand for the drug was expected.
The drug was invented by Prof. Raphael
Mechoulam of the Hebrew University of
Jerusalem. Pharmos has exclusive rights to the
development, manufacture and marketing of the
drug.
Analyst Shmuel Ben Eliezer of Solid told
"Globes" today that the announcement by
Pharmos was the most significant to date, and
under normal circumstances it would have
generated positive reaction in the company's
share. Pharmos is currently trading on Wall
Street at $1.6, reflecting a market value of $68
million.
Clearly, the success of the Phase II trials is
good news for Pharmos, yet the company still
has a long way to go until it receives marketing
approval. Ben-Eliezer estimates that the Phase
III trials are expected to be conducted over a two
year period, and upon successful completion,
the product will receive FDA approval within
three to four years.
The drug for the treatment of head trauma is the
product in which Pharmos is placing its major
aspirations. The company, together with Bausch
& Lomb, also markets two ophthalmic
medications it developed, and recently
announced its intention of starting final clinical
trials on a third medication. However, the main
potential of its activities lies in the drug for the
treatment of head injuries.
Published by Israel's Business Arena October
7, 1998
globes.co.il
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