congratulates PROLOR Biotech, Inc. (NYSE/AMEX: PBTH) for ringing the NYSE opening bell at
9:29 am EDT
today. PROLOR is a company co-founded and backed by
five years ago, and has recently been listed on the NYSE/AMEX and
PROLOR develops long-acting versions of already approved therapeutic proteins.
CTP (carboxyl-terminal peptide) appears to be applicable to virtually all proteins. Initially, PROLOR is developing long-acting versions of human growth hormone, interferon beta, factor VII, factor IX and EPO (erythropoietin). These products currently generate billions of dollars annually.
By extending the efficacy window, CTP reduces the cost and improves compliance for millions of patients reliant upon biotech proteins. The company believes these products, CTP-enhanced protein therapeutics, have the potential to address biopharmaceutical markets estimated at more than
. Biotech therapy is one of the fastest-growing (and most profitable) segments of the pharmaceutical industry.
, CEO of
said "After a year of unprecedented international economic turmoil, we are pleased to share such a great success with our network of investors, including the visionary leader of
, the largest generic drug company.
is committed to missions like this with large-scale impact. PROLOR Biotech is a shining example of how we network to create important companies."
About Spencer Trask
develops innovative ideas into world-changing companies. The company is the legacy of Mr.
, the financier who backed
and invested in the light bulb, the first electric grid and the phonograph. Modern day
has the same entrepreneurial spirit, recognizing new ideas that are having a profound impact in their respective industries, such as:
For more on
For more on PROLOR, visit
A registered representative of
serves on the Board of PROLOR Biotech Inc. Spencer Trask Ventures has in the past and may in the future provide financial advisory services to PROLOR. Affiliates of
own equity positions in PROLOR Biotech Inc.