Globes spin on today's press release:
Tuesday , Mar 23, 1999 Sun-Thu at 18:00 (GMT+2)
Stock Market News
Pharmos: Our Head Trauma
Medication Advantageous in
Treating Multiple Sclerosis
By Zvika Rubens
Pharmos announced today that it has received a
Notice of Allowance from the U.S. Patent and
Trademark Office for a new patent which covers
the use of dexanabinol as well as various
non-psychotropic cannabinoid analogs in the
treatment of multiple sclerosis.
The new patent defines novel therapeutic
applications for the use of dexanabinol. In
preclinical tests, Pharmos has demonstrated
that dexanabinol could exert anti-inflammatory
effects. The compound is also advantageous in
that it does not produce certain side effects of
other anti-inflammatory drugs used in the
treatment of multiple sclerosis, such as
steroids, and particularly in that they do not
cause the psychoactivity of natural
cannabinoids.
We are very pleased with the granting of this
patent,'' said Dr. Haim Aviv, Pharmos CEO. "Our
expectations of dexanabinol having multiple
neurological applications are confirmed by,
among other factors, its amelioration of the
severity of multiple sclerosis in animals.
Dexanabinol's neuroprotective properties could
also be beneficial by preventing or decreasing
the cumulative neurological damage caused by
multiple sclerosis, which is a chronic
degenerative disease. We are looking forward to
the beginning of Phase III trials to confirm
dexanabinol's efficacy in head trauma patients".
The patent allowance follows last week's much
anticipated report from the National Academy of
Sciences' Institute of Medicine (IOM) evaluating
the medical benefits of marijuana. The IOM,
which was commissioned by U.S. drug czar
Barry McCaffrey, found that marijuana's active
components are potentially effective in treating
muscle spasms associated with multiple
sclerosis, AIDS related anorexia, pain, nausea,
and other ailments. However, due to the risks
associated with smoking marijuana -- lung
damage, cancer, and emphysema -- the drug
should be administered by a safer, fast-acting,
and reliable method. The report recommends
that more clinical trials be performed to develop
a smokeless alternative to treat patients.
The worldwide market for dexanabinol in the
treatment of severe head trauma may reach $1
billion annually and is significantly larger if other
neurological conditions such as multiple
sclerosis and stroke are treated with the drug.
An estimated 2.5 million people suffer from
multiple sclerosis, which is most commonly
found in the United States, Canada, Europe, and
South America.
Pharmos is a pharmaceutical company
specializing in the modification of existing
molecules through proprietary techniques to
reduce undesirable side effects and/or enhance
efficacy.
Published by Israel's Business Arena March 23,
1999
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