Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) today announced the discovery and experimental validation of a novel membrane protein, CGEN-15001, for the treatment of autoimmune disorders. The company predicted the protein with its LEADS Platform and other proprietary algorithms.
The in vivo validation of CGEN-15001 indicates that it might have therapeutic utility for the treatment of multiple sclerosis and other autoimmune diseases, such as rheumatoid arthritis, systemic lupus erythematosus, inflammatory bowel disease, and type 1 diabetes. These are among the most common autoimmune diseases, affecting an estimated 25 million people in the US alone
Compugen VP R&D Dr. Zurit Levine said, "In our opinion, in addition to providing Compugen with a very attractive product candidate, the predictive discovery and experimental validation of a previously unknown member of this extensively researched protein family (B7/CD28) represents a major milestone in the transition from experimentally based therapeutic discovery to in silico prediction and selection."
Compugen's share closed at $3.95 on Nasdaq yesterday, giving a market cap of $113 million. The share rose 17% in premarket trading today, and rose 15.6% on the TASE today to NIS 17.22.
Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010