BioLineRx In-Licenses Novel Technology from Galmed International for the Treatment of Fatty Liver Disease; Innovative Small Molecule Has Potential for a One Billion Dollar Per Year Market.JERUSALEM -- BioLineRx Ltd., Israel's leading specialized drug development company, today announced that it has signed a license agreement for the development and commercialization of BL-1060, a small molecule for the treatment of fatty liver Fatty Liver Definition Fatty liver is the collection of excessive amounts of triglycerides and other fats inside liver cells. Description disease. The worldwide exclusive license agreement was signed with Galmed International Ltd. BioLineRx plans to develop the project through BioLine Innovations Jerusalem and to submit the project for funding by the Israeli Office of the Chief Scientist Office of the Chief Scientist may refer to:
The primary indication for BL-1060 is fatty liver disease (including nonalcoholic non·al·co·hol·ic adj. A beverage usually containing less than 0.5 percent alcohol by volume. steatohepatitis or NASH Nash , Ogden 1902-1971. American writer known for his droll epigrammatic verse, much of which appeared in the New Yorker. Noun 1. Nash - United States writer noted for his droll epigrams (1902-1971) Ogden Nash ), which is associated with the near epidemic of obesity and diabetes. Fatty liver is a condition that has only recently been recognized as a discrete and extremely common liver disease Liver Disease Definition Liver disease is a general term for any damage that reduces the functioning of the liver. Description The liver is a large, solid organ located in the upper right-hand side of the abdomen. by the medical community. Researchers believe that the insulin resistance Insulin Resistance Definition Insulin resistance is not a disease as such but rather a state or condition in which a person's body tissues have a lowered level of response to insulin, a hormone secreted by the pancreas that helps to regulate the level that develops secondary to obesity is the cause of both the dramatic increase in the number of type 2 diabetic patients, and the increasing prevalence of fatty liver disease. The number of patients experiencing obesity, insulin resistance, and related pathologies are expected to eclipse 300 million worldwide by 2025. Fatty liver disease now ranks as the third leading cause of chronic liver failure liver failure Clinical medicine Liver insufficiency that results in death, requires a liver transplant, or is characterized by recovery after encephalopathy, or while awaiting a transplant; also defined as a condition with ≥ 3 of following: albumin < 3. , behind alcoholic liver disease alcoholic liver disease Hepatology A general term for any of a number of clinical conditions caused by chronic excess of alcohol consumption, including alcoholic cirrhosis and alcoholic fatty liver. See Alcoholic hepatitis, Cirrhosis. and viral hepatitis. "BioLineRx's mission is to build a robust pipeline of drugs that have the potential to promote better and longer lives," said Dr. Morris C. Laster, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BioLineRx. "Fatty liver affects the health and endangers the lives of millions in the developed world, and we hope that BL-1060 will address this unmet medical need." BL-1060, based on research performed by Galmed, is a small molecule that modifies the metabolism and storage of cholesterol and fat. By doing so, BL-1060 could treat and prevent fatty liver disease. In animal models of fatty liver disease, BL-1060 reverses pre-existing fatty liver and prevents development of the disease. The compound is given orally and has shown no toxicity in early animal models. "No therapies are currently available for the treatment of fatty liver, a one billion dollar market per year," said Allen Baharaff, CFO See Chief Financial Officer. of Galmed. "We are excited about the potential of Bl-1060 to improve the health and lives of millions around the world. We considered several drug development companies in the USA and Europe and chose BioLineRx for the clinical development and commercialization of the molecules. We were very impressed by the scientific excellence and the organizational capacities of the BioLineRx team. We look forward to accelerating development of this product through our partnership with BioLineRx." About BioLineRx, Ltd. Founded in 2003 by leaders in the Israeli life-sciences sector, BioLineRx is committed to developing a robust pipeline of promising therapeutics for unmet medical needs. BioLineRx is focused on advancing projects from early stage discovery and lead generation to advanced clinical trials, regulatory approval and marketing. For more information, please visit www.biolinerx.com. About Galmed International, Ltd. Galmed International Ltd. Is a European company founded in 2000. Galmed holds worldwide patent rights to a new family of small molecules active in several major metabolic diseases affecting mankind. After developing and testing its molecules in animals the Galmed group team up with leading drug development companies for advanced clinical trials and regulatory approval. |
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