Published On: Wed, Apr 16th, 2014

Opko health turns Prolor Biologics into Israeli R&D, investment arm


Chairman Phillip Frost: We have big plans for Opko Biologics.

OPKO

Opko Health Inc. (NYSE: OPK; TASE: OPK) has renamed Prolor Biotech, which it acquired for $480 million a year ago, as Opko Biologics, and will use it to pursue R&D and to seek new investment opportunities in Israel.

President Shai Novick will hold the same position at Opko Biologics.

Opko chairman Phillip Frost said, “We have big plans for Opko Biologics in particular, and in the Israeli market in general. We believe in the Israeli life sciences industry and in the investment opportunities that this industry opens before Opko. Opko has always been happy to add to its family of companies interesting products with the potential for changing the industry, and we have full confidence in the Israeli industry. Israeli industry has proven itself time after time with innovative products.

Opko had a very successful year, and in the coming year, we expect significant progress in the development of its leading products. We expect to announce the results for Rayaldy midyear and to file a new drug application in the first half of 2015. We are also enthusiastic about our pending launch of our 4Kscore blood test for prostate cancer. We believe that this test will improve the diagnosis and management of prostate cancer.”

Published by Globes [online], Israel business news – www.globes-online.com 

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