KAHR Medical Raises $500K to Support its Product Pipeline Development
News Feb 04, 2009
KAHR Medical has announced that it has raised $500 thousand from Hadasit Bio-Holdings (HBL) and the Office of the Chief Scientist of the Ministry of Industry, Trade and Labor of Israel (OCS). KAHR Medical’s drug development pipeline is built around the ‘trans signal converter proteins (TSCP)’ technology, a novel drug technology invented by Professor Mark L. Tykocinski and licensed from the University of Pennsylvania. The financing will support further development of KAHR Medical’s product pipeline. “TSCP molecules represent a paradigm-shift in drug development. TSCP drugs are unique, because they integrate two functional sides within the same molecule, unlike conventional biologicals that only have one functional side. These two active sides allow TSCP drugs not only to block or induce cell signals, as conventional drugs do, but also to convert signals sent from one cell to another, which is especially beneficial for the manipulation of the immune system required for the treatment of autoimmune disease,” said Dr. Noam Shani, CEO of KAHR Medical. He continued, “We have already shown in our experiments that this completely new mode of action translates into superior activity and specificity over conventional drugs. We believe that this scientific superiority will ultimately be converted into a market advantage.” KAHR Medical also announced that the company has selected two candidates from a group of validated TSCP compounds on which to initially focus. In the next six months the company plans to conduct preclinical studies of KAHR-101 and KAHR-102 at Hadassah University Hospital. KAHR plans to first initiate a clinical study of KAHR-101 as a treatment for RA by next year. “The significant progress of our companies during the last year further validates the HBL structure, its choice of companies and our continued support of their activities. We are excited about the promising advancements at KAHR Medical and the interest it generates among potential partners and investors. It is indeed a company to watch,” said HBL CEO Adv. Ophir Shahaf. KAHR Medical has raised $1.5 million to date from HBL and the OCS. The company plans to begin an external financing round before the end of 2009 to support its clinical program.
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