Petah Tikva based biotech company AIT Ltd. (Advanced Inhalation Therapies) has completed a $1.25 million financing round. AIT specializes in the development of formulations based on nitric oxide for infectious lung diseases. The funds will enable the company to begin two clinical trials. The University of British Columbia in Vancouver, Canada, licensed the technology to AIT.
The company was founded in 2011 by Mor Research Applications of Clalit Health Services and has successfully completed Phase I trials. AIT develops products for the treatment of brochiolitis, cystic fibrosis, pneumonia, asthma, and influenza. The company is owned by Mor Research Applications, which is involved in the management and commercialization of intellectual property for Clalit physicians.
AIT director Dr. Yossef Av-Gay who is a Professor at the University of British Columbia in Vancouver said, "Nitric oxide is a gas that is produced in the human body and is responsible for a wide range of activities from the expanding of blood vessels to fighting infections. Now, for the first time, AIT is starting Phase II clinical studies after a successful Phase I trial conducted at the University of British Columbia under the supervision of Dr. Chris Miller. I believe that we are on the verge of a breakthrough in the treatment of lung infections with new drugs based on nitric oxide.”
Soroka Hospital pediatric infectious disease unit senior doctor Prof. David Greenberg said, “Every winter, we are flooded with infants with bronchiolitis and others who require respiratory intensive care due to narrowing of the windpipe. Now, there is no cure for this condition. The new drug could revolutionize treatment of this disease for Soroka patients. The body’s immune system uses nitric oxide gas in its natural state as its first line of defense against viruses and bacteria. Toddlers and infants whose immune systems are not yet fully developed are very sensitive to viral infections that exploit their vulnerability. Using nitric oxide gas may give the required response for infants and toddlers with pulmonary infections due to bronchiolitis.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2012
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