VBL Therapeutics(Nasdaq:VBLX) is moving to the final stage of clinical trials. The company, managed by CEO Prof. Dror Harats, today announced the entry of the first patient into its pivotal Phase III clinical trial for its leading product, VB-111, for the treatment of brain tumor patients. The trial will compare VBL's drug used in combination with oncological drug Avastin with the use of Avastin by itself in the treatment of recurring glioblastoma (a type of brain cancer).
The company plans to recruit 252 patients in the US, Canada, and Israel, with six of the patients being in Israel. The US Food and Drug Administration (FDA) has approved the protocol for the trial.
VBL VP clinical development Yael Cohen says that the company believes that VB-111 is a breakthrough biological research drug likely to change the way patients with the disease are treated. Several months ago, the company reported positive results for VB-111 in its Phase II clinical trial, with statistically significant improvement in the survival rates of patients treated with the drug, and continued afterwards with the drug used in combination with Avastin.
VBL held its IPO almost 18 months ago, and its current market cap is $80 million, after the share price lost 40% of its value since the offering.
Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2016
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