BiolineRX Ltd. (TASE:BLRX) has launched a targeted cancer therapy project of its BL-7030 innovative RNA receptor molecule.
In contrast to chemotherapies, which are not targeted at specific tumor cells, and can have severe side-effects, targeted therapies focus solely on tumor cells by blocking specific aspects of the target molecules responsible for the tumors. Targeted cancer therapy is more effective and has fewer side effects, in part because it avoids harming normal cells.
BL-7030 was developed by Prof. Alexander Levitsky and Dr. Alexei Shir of the Hebrew University of Jerusalem. BiolineRX bought the rights to the drug from Algen Biopharmaceuticals Inc.
BiolineRX CEO Dr. Kinneret Savitsky said, "BL-7030 is our third project launched since the beginning of 2011. We now have 13 projects. BL-7030 has great potential as a targeted cancer therapy. We are also making progress on our other projects, which are in preclinical and clinical stages for a variety of indications, including diseases of the central nervous system, cancer, infectious diseases, heart disease, and autoimmune diseases. We are also reviewing projects suited to our business model."
BiolineRX's share price rose 3.6% in morning trading to NIS 1.95, giving a market cap of NIS 235 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2011
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