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August 29, 2008
By: Tim Wright
Editor-in-Chief, Contract Pharma
Pharmos Corp. will cease operations in Rehovot, Israel, effective October 31, 2008. The company plans to manage the activities currently based in Rehovot out of its U.S. headquarters in Iselin, NJ. The research programs in Israel include the CB2 receptor selective library of compounds, including preclinical development of PRS-639,058 for neuropathic pain. The company is also working on finishing up a Phase IIa trial for its 3% diclofenac NanoEmulsion cream for use as a topical treatment for osteoarthritis pain. The company is seeking a partner to lead both operating and funding of the research programs in Israel. The Rehovot senior management team of Iris Alroy, Ph.D. and Arnon Aharon, M.D. will remain available to support ongoing business development and existing collaborations as consultants.
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