2023-04-19 06:59:00
The international pharmaceutical giant TOI (Théa Open Innovation) will invest in Glimdix – a company that provides, among other things, new solutions for eye diseases and neurodegeneration. As part of the agreement, the pharmaceutical giant will invest in the development of a new drug, so that Glimedix will be entitled to advance payment, in addition to success-based payments.
The technology she chose to invest in is the development of a cure for AMD, which causes blindness in adults. It was established around the technology developed by Prof. Ehud Gazit from Tel Aviv University.
In addition, Glimdix will be able to receive royalties on future sales and will remain responsible for the continuation of the clinical trials. TOI will fully finance the further development of the drug and lead to the registration and commercialization of the drug.
The clinical tests conducted by Glimedix have been successfully completed. The company received supportive feedback from the FDA for continued development planned to begin in 2024, with the first patient. Initial clinical efficacy results are expected approximately 18 months later. The drug will be marketed in a “user-friendly” form as eye drops.
Age-related molecular degeneration (AMD) has been found to be the leading cause of adult blindness. It is a degenerative disease of the retina classified as “wet” or “dry” with the latter being the most common. The result is a progressive loss of vision. Currently, there is no approved treatment for this. AMD affects about 1 in 4 adults over the age of 65. It is estimated that there are currently about 200 million patients worldwide suffering from AMD, which is the leading cause of adult blindness in the US and other industrialized countries.
The new technology is the first to be offered as a cure for dry AMD. Prof. Gazit said: “I am very excited that the effectiveness of the technology we developed from the ground up is about to be tested on humans. The innovative material was designed to be highly effective in identifying and repairing aggregates of damaged proteins involved in disease processes, but will not affect normal proteins at all. Therefore, profile The safety, as we have seen in animal experiments and the first phase experiments in humans, is so good. The ability to harness our knowledge and key research insights to develop drugs for diseases that do not have an adequate response is a great mission and privilege. I hope that thanks to our unique scientific work we can improve the quality The lives of many people in the world who are dealing with age-related degenerative diseases.”
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