BioRap Technologies Ltd Signs Agreement With HaptoGuard
Haifa, Israel, May 16, 2005 – BioRap Technologies Ltd., a private company which manages the commercialization of intellectual property developed by members of the Rappaport Family Institute for Research in the Medical Sciences at the Technion, announced today that it has expanded its license and research agreement with HaptoGuard Inc., an American biopharmaceutical company focused on the development and commercialization of anti-inflammatory therapeutics for large, underserved populations. The agreement will allow HaptoGuard to further develop diagnostic and therapeutic products for the management and treatment of diabetes-related complications.
“This agreement extends the scope of our already successful relationship with BioRap,” stated Noah Berkowitz, M.D., Ph.D, CEO of HaptoGuard. “We expect to continue to make significant progress in the diabetic therapeutic area, advancing both our company’s pipeline and therapeutic options for diabetes patients.”
Under the terms of the agreement, HaptoGuard will have exclusive rights to develop and commercialize BioRap’s novel system for the prediction and prevention of diabetes-related cardiovascular complications. HaptoGuard Inc. will provide milestone payments and royalties on future revenues.
"We are extremely excited to sign this agreement with HaptoGuard. We believe that their strategy capitalizes on the promise of our technology and optimizes the development process, which will potentially lead to breakthroughs in the treatment and diagnosis of diabetes,” said David Promof, CEO of BioRap.
The technologies are based on the work of Dr. Andrew Levy, a member of The Rappaport Institute. Dr. Levy’s laboratory team has developed a novel test method, based on a form of a protein called haptoglobin. This simple yet sophisticated one-drop blood test identifies high-risk diabetic patients. The test has been validated in over 20,000 diabetics around the world, and the work has been published in peer-reviewed journals such as Diabetes Care and Circulation Research. Presently, the value of the test is in determining which diabetics should be treated most aggressively with regard to management of blood sugar, high blood pressure and lipid (cholesterol) levels.
HaptoGuard will also develop a pharmacogenomic drug based on BioRap’s research. This lead personalized drug may be useful in the management and treatment of vascular complications and restenosis in type 2 diabetic patients. Designed as personalized therapy for patients who test positive for vascular risk, the lead drug is poised to dramatically improve the clinical management of diabetes and related cardiovascular disease.