BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX) today announced success in a preclinical trial of it oral treatment for hepatitis C, BL-8020, and that it will launch a human Phase I/II clinical trial in Europe to test the drug's safety and efficacy during the first quarter of 2013
BL-8020 has a unique mechanism of action for treating hepatitis C, compared with other current treatments, which suggests that it is effective across different strains and can be combined with other therapeutics as part of an interferon-free regimen. BL-8020 inhibits hepatitis-induced autophagy (a mechanism by which cells degrade damaged or unnecessary cellular components, including invading viruses) in the host cells, thereby reducing the ability of the hepatitis virus to replicate.
BiolineRX has an exclusive worldwide license for BL-8020 from France Genoscience SA.
BiolineRX CEO Dr. Kinneret Savitsky said, "The unique characteristics of BL-8020 make it attractive as an adjunct therapy to other oral cocktail therapies, therefore not directly competing in the crowded hepatitis market of currently approved therapies or those under development."
BiolineRX's share price rose 10.5% on the TASE today, following the announcement to NIS 1.28, after closing at $3.05 on Nasdaq yesterday, giving a market cap of $54 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 16, 2012
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