The drug has proven to be safe and well-tolerated in Phase I/IIa clinical trials. As part of an advanced product development program, Avraham will use the newly invested capital to complete an additional 52-week Phase II proof-of-concept efficacy trial in patients with Alzheimer’s disease. Avraham will have exclusive license to the commercial rights of Ladostigil.
Unlike other drugs for treatment of Alzheimer’s and other neurodegenerative diseases, Ladostigil has the potential to improve the behavioral and psychological symptoms of dementia such as depression and anxiety. It also has the potential to slow progression of clinical symptoms of Alzheimer’s disease for sustained periods of time.
Yissum Research Development Company, the technology transfer arm of the Hebrew University of Jerusalem, together with Pontifax, Clal Biotechnology Industries, Professor Marta Weinstock-Rosin and others participated in the financing of Avraham Pharmaceuticals.
Alzheimer’s disease is the most common cause of dementia worldwide, affecting about one in 20 people 65 years of age or older. In 2009, 5.3 million people were affected by Alzheimer’s disease in the US, where it is the 6th leading cause of death.