Curetech Ltd. has completed recruitment for the Phase II (efficacy) clinical trial of its monoclonal antibody CT-011 for the treatment of metastatic colorectal cancer. The company has also begun the Phase II clinical trial of the drug to treat myeloma (a blood cancer).
The colorectal cancer trial will include 171 patients undergoing chemotherapy, and will last 18 months. The final results will be received after the completion of statistical analysis of the data.
Curetech is also continuing to monitor patients in a Phase II clinical trial of CT-011 for the treatment of large B cell lymphoma, and expects to publish the results later this year. The Phase II trial of the drug on non-Hodgkin's lymphoma, the trial for myeloma, and other Phase I/II trials, including for nonalcoholic steatohepatitis (NASH), a liver disease, are also continuing.
Since the trials are all for the same drug, efficacy data in one trial, could greatly affect Curetech's value.
Clal Biotechnology Industries Ltd. (TASE: CBI) owns 37% of Curetech and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) owns 30%, after investing $16.6 million in the company, and, according to Clal Biotech, has committed to investing an additional $40 million. Teva has an option to acquire Curetech for $160 million, if the clinical trials are successful.
Published by Globes [online], Israel business news - www.globes-online.com - on February 20, 2011
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