HERZELIYA, Israel, March 15, 2012 /PRNewswire/ --
- The agreement is expected to assist the Company with safety
and efficacy data that may focus its clinical trials' design and
preparations for its clinical trials and evaluation of new
projects
- Clalit Research Institute is the research arm of Clalit
Health Services - Israel's largest
HMO with more than 4 million members
On March 14, 2012, XTL
Biopharmaceuticals announced that it entered into a strategic
collaboration framework agreement with Clalit Research Institute
Ltd., the research arm of Clalit Health Services ("the Institute")
and Mor Research Applications, the technology transfer office of
Clalit Health Services ("Mor").
According to the agreement, upon XTL's request, the Institute
will provide the Company with clinical data and analyses which
would be based on the Institute's database in connection with
technologies that stem from inventions and patents of Clalit Health
Services' physicians. The nature of the various clinical projects
shall be agreed upon by the Company, the Institute and Mor in
advance.
The Company, in consideration for the above, shall pay the cost
basis related to the Institute's activity in the collaboration
framework of any Project plus an additional 10% of the total
royalties Mor is entitled pursuant to its agreements with the
Company in connection with each technology where rights were
granted to the Company.
According to XTL, access to data through this agreement will
enable the Company to evaluate safety and efficacy data of the
technologies in development as well as technologies where
development has not yet commenced.
Currently, the Company has the rights to two technologies that
were in-licensed from Mor, rHuEPO for the treatment of multiple
myeloma blood cancer and SAM-101 for the treatment of psychotic
patients. The Company is in preparations for the implementation of
its rHuEPO phase 2 clinical trial for the treatment of multiple
myeloma cancer patients. In addition, the Company has the exclusive
rights for SAM-101, which is based on the combination of existing
anti-psychotics together with a known medicinal compound for the
treatment of anti-psychotic patients with focus on schizophrenia,
which has successfully completed a phase 2a in Israel.
"Our collaboration with the research institute directly supports
our clinical development pipeline," said David Grossman XTL's Chief
Executive Officer. "This strategic collaboration represents another
important link in the ecosystem we are building around our
cutting-edge technologies focused on clinical development."
Ronen Twito, XTL's Chief
Financial Officer mentioned that "This type of collaboration is an
excellent example of how we hope to further develop collaboration
with innovative partners in our clinical development mission".
About XTL Biopharmaceuticals, Ltd ("XTL")
XTL Biopharmaceuticals, Ltd., a biopharmaceutical company,
focuses on the acquisition, development, and commercialization of
pharmaceutical products. The Company is focused on the late stage
clinical development of drugs for the treatment of multiple
myeloma, schizophrenia, and hepatitis C.
XTL is a public company traded on the Tel Aviv Stock Exchange
(TASE: XTL) and its ADRs are quoted in the US on the Pink Sheets
(Pink Sheets: XTLBY).
Contact:
Investor Relations, XTL Biopharmaceuticals Ltd.
Tel: +972-9-955-7080, Email: ir@xtlbio.com
SOURCE XTL Biopharmaceuticals Ltd