Israeli OCS approves $1.7M grant to support PROLOR's hGH-CTP program

PROLOR Biotech, Inc. (NYSE Amex: PBTH), a company developing next generation biobetter therapeutic proteins, today announced that the Israeli Office of the Chief Scientist (OCS) has approved a 2011 grant to PROLOR's Israeli-based R&D subsidiary for the company's development program for hGH-CTP, its long-acting version of human growth hormone (hGH).  

The OCS approved a grant of $1.7 million to support PROLOR's hGH-CTP program for 2011.

hGH-CTP is PROLOR's proprietary biobetter version of human growth hormone.  Human growth hormone is used for the long-term treatment of children and adults with growth hormone deficiency due to inadequate secretion of endogenous growth hormone.  It is also sometimes used to counter involuntary weight loss and certain physical manifestations of aging.  Currently available forms of hGH must be injected daily.  Global sales of hGH products are estimated at about $3 billion annually.

PROLOR recently reported positive results from a Phase II study of hGH-CTP in adults with growth hormone deficiency.  The study showed that hGH-CTP has the potential to reduce the required hGH dosing frequency from the one injection per day required currently to a single weekly injection.  The company is planning to initiate a Phase III trial of hGH-CTP in adults with growth hormone deficiency in 2012.

"This generous $1.7 million grant is an important non-dilutive cash resource for our hGH-CTP development program," said Abraham Havron, Ph.D., Chief Executive Officer of PROLOR.