The share price of DNA Biomedical Solutions Ltd. (TASE: DNA) jumped in morning trading today, after announcing that subsidiary Entera Bio Ltd. has obtained orphan status from the US Food and Drug Administration (FDA) for its oral treatment for hypoparathyroidism.
DNA Biomedical owns 52% of Entera Bio, a joint venture with Oramed Pharmaceuticals Inc. (Nasdaq:ORMP). DNA's share price rose 6.8% following the announcement to NIS 0.20, giving a market cap of NIS 40 million.
Hypoparathyroidism is decreased function of the parathyroid glands with underproduction of parathyroid hormone, causing low calcium levels in the blood, resulting in muscle cramping, twitching, or involuntary contraction, and several other symptoms. The condition can be inherited, or a consequence of thyroid or parathyroid gland surgery, or immune system damage.
Current treatment is with calcium or Vitamin D along with drugs for treating the symptoms. Since large dosages of calcium are usually needed, they can cause severe side effects, including neurological disorders and kidney stones.
There are 50,000 cases of Hypoparathyroidism in the US. Entera Bio estimates that its drug is suitable for half of them.
Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2014
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