The company wishes to develop an antidote to the bite of a poisonous snake commonly found in Asia.
Indian pharmaceutical company Biological E Ltd. has purchased from the Weizmann Institute of Science the development rights to a product designed to treat bites from a poisonous snake commonly found in Asia, which produces the venom Bungarus Multicinctus. The agreement was signed with Yeda Research and Development Company Ltd., which also initiated the contact with the Indian company. The details of the agreement were not disclosed although it was confirmed that it will be based on royalties.
Dr. Noah Shelach, project supervisor at Yeda said, “The product is currently at the preclinical trials stage. It has been tested on a number of species of snake and has been found to be effective in treating the bites of all of them, including this one. There is currently no treatment for the bite of this snake. The trials of this product are likely to proceed fairly quickly since the results of the test are extremely quick and conclusive - the patient either lives or dies.”
Biological E, a privately-held company, was founded in 1953. It markets and distributes drugs and herbal products, and also develops new drugs and vaccines. It has annual sales of $50 million. The company has several products on the market and a pipeline of new products.
Published by Globes [online], Israel business news - www.globes.co.il - on September 17, 2006
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