PROLOR Biotech to Present Long-Acting Obesity and Multiple Sclerosis Drug Candidates at Leading Neuropeptide Conference

NES-ZIONA, Israel, May 23, 2011 /PRNewswire/ -- PROLOR Biotech, Inc. (NYSE Amex: PBTH), a clinical stage company developing next generation biobetter therapeutic proteins, today announced that its proprietary CTP and Reversible PEGylation platforms for extending the longevity of most proteins, peptides and small molecules will be highlighted today in a presentation at the joint meeting of the Summer Neuropeptide Conference and The European Neuropeptide Club (ENC). The joint conference, which attracts leading researchers from around the globe, is being held in Cambridge, MA from May 22May 25, 2011.

PROLOR researcher Dr. Oren Hershkovitz will discuss PROLOR’s experience applying its proprietary CTP and Reversible PEGylation technologies to significantly extend the duration of action of therapeutic proteins and peptides, focusing on PROLOR’s potential treatments for obesity and multiple sclerosis. PROLOR recently announced positive interim data from a Phase II trial of its long-acting version of human growth hormone, hGH-CTP, showing that a single weekly injection of hGH-CTP has the potential to replace seven daily injections of currently marketed hGH.

Dr. Hershkovitz noted, “Many of the most exciting drug candidates currently in development are proteins and peptides that require administration by injection, so the broad applicability of our CTP and Reversible PEGylation technologies to significantly extend the duration of action of a variety of proteins, peptides and small molecules is especially relevant. By transforming a once-daily injected drug into a once-weekly or bi-monthly injected drug, our technologies have the potential to make the development of many more of these drug candidates feasible and practicable. We welcome the opportunity to present these two innovative technologies to the distinguished neuropeptide researchers attending this meeting.”

For more information on the joint meeting of the Summer Neuropeptide Conference and The European Neuropeptide Club, visit www.tau.ac.il/~igozes/usa/index.htm

ABOUT PROLOR BIOTECH

PROLOR Biotech, Inc. is a clinical stage biopharmaceutical company applying unique technologies, including its patented CTP technology and its Reversible Pegylation technology, primarily to develop longer-acting, proprietary versions of already approved therapeutic proteins that currently generate billions of dollars in annual global sales. The CTP technology is applicable to virtually all proteins and the Reversible Pegylation technology is well-suited for use with peptides and small molecule therapeutics. PROLOR is currently developing long-acting versions of human growth hormone, which is in Phase II clinical development, and Factor IX, Factor VII, interferon beta and erythropoietin, which are in preclinical development, as well as an anti-obesity peptide and agents for atherosclerosis and rheumatoid arthritis. For more information, visit www.prolor-biotech.com.

Safe Harbor Statement: This press release contains forward-looking statements, which may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “would”, “intends,” “estimates,” “suggests,” “has the potential to” and other words of similar meaning, including statements regarding the results of current clinical studies and preclinical experiments and the effectiveness of PROLOR’s long-acting protein programs, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect PROLOR’s business and prospects, including the risks that PROLOR may not succeed in generating any revenues or developing any commercial products, including any long-acting versions of human growth hormone, erythropoietin, interferon beta, GLP-1 and other products; that the long-acting products in development may fail, may not achieve the expected results or effectiveness and/or may not generate data that would support the approval or marketing of these products for the indications being studied or for other indications; that ongoing studies may not continue to show substantial or any activity; that the actual dollar amount of any grants from Israel‘s Office of the Chief Scientist is uncertain and is subject to policy changes of the Israeli government, and that such grants may be insufficient to assist with product development; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. The results of clinical trials in humans may produce results that differ significantly from the results of clinical and other trials in animals. The results of early-stage trials may differ significantly from the results of more developed, later-stage trials. The development of any products using the CTP platform technology could also be affected by a number of other factors, including unexpected safety, efficacy or manufacturing issues, additional time requirements for data analyses and decision making, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing and the impact of patents and other proprietary rights held by competitors and other third parties. In addition to the risk factors described above, investors should consider the economic, competitive, governmental, technological and other factors discussed in PROLOR’s filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law.

SOURCE PROLOR Biotech, Inc.