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The Rappaport Institute looks forward to continuing to make substantial future contributions in biomedical research"

Professor Karl Skorecki

BioRap Technologies Ltd signs development and commercialization agreement with Biolinerx for therapeutic treatment of prostate cancer

20 June, 2005

Haifa, Israel (June 20, 2005) –
BioRap Technologies, a private company established to manage the commercialization of intellectual property developed by members of the Rappaport Family Institute for Research in the Medical Sciences at the Technion, today announced it has signed an in-license agreement with BioLineRx, Israel’s leading specialized drug development company. Under the terms of the agreement, BioLineRx will develop and commercialize BL-2030, a soluble receptor that targets cancer cells that will be developed first for the treatment of prostate cancer. Developed by Prof. Nathan Karin, a faculty member in the Department of Immunology of the Faculty of Medicine at the Technion and a member of the Rappaport Family Institute for Research in the Medical Sciences. BL-2030 is a soluble receptor that targets multiple types of cancer. The compound will initially be developed to treat prostate cancer. BL-2030's approach is unique in that the soluble receptor can block the effects of cytokines that have been implicated in the growth and progression of tumors. In vitro studies demonstrate specific binding while in vivo studies in hormone refractory prostate cancer model shows high efficacy of the compound with no toxic effects. 

“BioRap is building a strong pipeline of potential drugs for cancer and inflammatory diseases,” added David Promof, CEO of BioRap. “We have no doubt that the skilled team at BioLineRx will further develop our cancer drug candidate based on our proprietary Vaccinogen platform technology and bring it successfully to the market.”

Prostate cancer is the most commonly diagnosed cancer in men. In the United States and Europe, prostate cancer accounts for one in three new cancer diagnoses and for one in 10 cancer deaths. The worldwide market for medical therapies of prostate cancer is estimated at between $2 and $5 billion annually, beyond the surgical and radiological costs of treatment.

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