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BioLineRx Ltd. In-Licenses Novel Technology From Galmed International, Ltd. For The Treatment Of Fatty Liver Disease; Innovative Small Molecule Has Potential For A One Billion Dollar Per Year Market
10/19/2005 5:13:00 PM
JERUSALEM--(BUSINESS WIRE)--March 14, 2005--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 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 under the National Biotech Grant that BioLineRx received in November of this year.
The primary indication for BL-1060 is fatty liver disease (including nonalcoholic steatohepatitis or 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 by the medical community. Researchers believe that the insulin resistance 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, behind alcoholic liver disease and viral hepatitis.
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