Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.US-based biopharmaceutical company Pharmos has announced that effective October 31, 2008 it will cease operations in Rehovot, Israel, and manage the activities currently based in Rehovot out of the company's US headquarters in Iselin, New Jersey.
Subscribe to our email newsletter
The research programs in Israel are the CB2 receptor selective library of compounds, including preclinical development of PRS-639,058 for neuropathic pain. Additionally, the company has almost completed a Phase IIa trial with its proprietary 3% diclofenac NanoEmulsion cream for use as a topical treatment for osteoarthritis pain.
The company’s strategy is to seek a partner who will take the lead in both operating and funding the research programs in Israel. To facilitate these efforts, the company has engaged and has been working with a boutique life science investment bank.
The company also said that the Rehovot senior management team of Iris Alroy, and Arnon Aharon will remain available to support ongoing business development and existing collaborations as consultants.