Evogene Completes $1.75 Million Private Placement

REHOVOT, Israel (May 31, 2005) Evogene Ltd. announced today that it has received $1.75 million in new capital from its existing as well as new investors from Israel, France and North America.

Ofer Haviv, President and CEO stated: "We are pleased to benefit from the continuing support and confidence from our current investors and are pleased to welcome the new investors to Evogene. We believe that this additional investment will help us in establishing Evogene as a leading developer of plant agro-biotechnology traits and to speed up the development of our unique plant platform for the production of therapeutic proteins."

About Evogene:
Evogene is a biotechnology company focused on developing high-value commercial products based on plant genomics. The company is merging state-of-the-art predictive computational biology and molecular biology with the most advanced breeding technologies. Evogene's current product development portfolio is focused on: improving abiotic stress tolerance and yield in key crops such as corn, soya, cotton and canola; enhancing fiber development in cotton; improving nitrogen use efficiency and plant manufacturing of therapeutic proteins. Evogene was founded in 2002 by Drs. Hagai Karchi and Rafi Meissner as a plant biotechnology spin-off of Compugen Ltd (Nasdaq: CGEN). For additional information, please visit Evogene's Website at www.evogene.com.

Contacts: Evogene, Chief Executive Officer, Ofer Haviv, +972-8-931-1904, E-mail: ofer.haviv@evogene.com
Further info: Business Wire

Healthcare Sold its Interest in Procognia and Has Regained Compliance With NASDAQ's Minimum Stockholders' Equity Requirement

PETACH TIKVA, Israel (31 May 2005) -- Healthcare Technologies Ltd. (NASDAQ: HCTL - News), today announced that it has completed the sale of its equity interest in Procognia Ltd. to Healthcare's principal stockholder, Gamida-for-Life BV, following the receipt of stockholder approval for this transaction at Healthcare's special general meeting of stockholders held on May 29, 2005. The completion of this transaction will result in an increase in Healthcare's stockholders' equity (which was approximately $2.0 million at March 31, 2005) by approximately $4.8 million as a result of the deconsolidation of Procognia's accumulated losses from Healthcare's balance sheet. As a result, the Company has regained compliance with the Nasdaq Stock Market's minimum stockholders' equity requirement.
About Healthcare Technologies

Healthcare Technologies Ltd., through its subsidiaries and affiliate, Gamidor Diagnostics (1984) Ltd., Danyel Biotech Ltd. and Savyon Diagnostics Ltd., specializes in development, manufacturing and marketing of clinical diagnostic test kits and provides services and tools to diagnostic and biotech research professionals in laboratory and point of care sites worldwide.

SAFE HARBOR: This press release contains certain forward looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Healthcare Technologies Ltd. Readers are referred to the documents filed by the company with the Securities Exchange Commission, specifically the most recent report on Form 20F that identifies important risks which could cause actual results to differ from those contained in the forward looking statements.

Further info: Eran Rotem, CFO, (972-3) 927-7232/3 Biz.Yahoo.com

Quark Biotech to Present at 2005 Aspen Lung Conference

FREMONT, Calif., May 26 -- Quark Biotech, Inc. willpresent findings from a study that outline the role of the hypoxia induciblegene RTP801 in cigarette smoking-induced pulmonary injury at the upcomingannual Aspen Lung Conference in Aspen, Colorado from June 13th-17th, 2005.The study was conducted in wild type mice and in mice where expression ofRTP801 was suppressed. Dr. Rubin M. Tuder, Associate Professor of Pathologyand Director of Cardiopulmonary Pathology at Johns Hopkins MedicalInstitutions and Quark's collaborator and leader of the study, will presentthe results. Quark discovered RTP801 in 1997 and was recently granted three broad U.S.patents for covering the gene, its encoded protein and their inhibition.RTP801, a unique and direct gene target for hypoxia-inducible factor-1(HIF-1), is involved in pathogenesis of several diseases associated withischemia/oxidative stress.

About Quark Biotech, Inc.
Quark Biotech, Inc. is a privately held development-stage,biopharmaceutical company headquartered in Fremont, CA, [and Rehovot, Israel]. Through innovativecombination of gene silencing and DNA microarray technology, Quark haspioneered and patented its BiFARTM platform for high-throughput functionalprofiling, allowing significant advances in the identification of target genesand proteins. This technology allows the company to develop conceptually noveldrugs that provide previously unavailable benefits to patients. Quark iscurrently harvesting novel targets identified using this enabling foundationtechnology. Quark has focused development efforts on treatment of fibrotic andischemic diseases of the eye, kidney and lungs, in indications with clearunmet medical needs. Quark corporate product development teams and research facilities arebased in Fremont, CA with research facilities also in Ness-Ziona, Israel.

Additional information is available at http://www.quarkbiotech.com. PRNewswire-FirstCall
SOURCE Quark Biotech, Inc.

Maryland-Israel Development Fund Launched

"This week marked the launch of the Maryland-Israel Development Fund (MIDF), a joint project of the Maryland-Israel Development Center (MIDC), Maryland’s Department of Business and Economic Development, and the Office of the Chief Scientist of Israel’s Ministry of Industry and Trade. The Trendlines Group, representative of the state of Maryland in Israel, timed the announcement to coincide with the Biotech 2005 Conference, now taking place in Tel-Aviv. The fund is intended to encourage joint ventures between Israel-based and Maryland-based companies, and will support the development of new products. Trendlines Group managing director D. Todd Dollinger said that the fund will invest between $100,000 and $300,000 in approved projects. The total amount to be invested by the fund is $5 million over a five year period. The fund will invest in projects in the following fields: biotechnology, telecommunication, information systems, electronics, homeland security, and materials science. Funding will be made as a conditional grant, which will be returned by successful companies over time. MIDF will be investing on a matching basis.

Source: Globes correspondent. Maryland-Israel Development Fund launched: MIDF will invest $5 million over a five year period.Globes (25 May 2005) [FullText]

American & European Parkinson's Patients Can Now Access New Rasagiline (Agilect, Azilect) Drug Treatment From Israel

Agilect or Azilect). Now, many American & European patients with the neurodegenerative disease are turning to Isrameds.com, Israel's only international mail order pharmacy, to obtain the novel treatment.

Rehovot, Israel (PRWEB) May 24, 2005 -- After experiencing Pope John Paul II's recent death, caused by his long battle with Parkinson's Disease, many of the 1.5 million U.S. and European patients afflicted by the neurodegenerative condition are turning to Israel to obtain the latest treatment Rasagiline (Agilect, Azilect) to fight it.

Rasagiline was approved by the Israeli Minister of Health on January 4, by the European Commission on February 28, and was launched for sale in Israel in March. It will not be available in most of Europe or the United States until later this year.

Already, Isrameds.com (www.isrameds.com), Israel's only international mail order pharmacy, reports that it has had 80 orders for Rasagiline and is receiving dozens of inquiries about it every day from American and European consumers and their physicians.

"Parkinson Disease patients across the U.S. and Europe are desperate for any new therapy that shows considerable promise," said Avi Fadida, Isrameds.com Marketing Manager. "Because Rasagiline will not be available in other countries for several months at the earliest, Isrameds.com is one of the first pharmacies in the world to provide the treatment to our international customers."

Fadida said dozens of Parkinson Disease specialists in the United States are currently ordering Rasagiline for their patients. Canadian pharmacies are unable to dispense the drug because it has not yet been approved by Health Canada, Canada's drug regulatory authority.

Rasagiline is sold as a once-daily 1-mg tablet as monotherapy for the treatment of early Parkinson's disease and as an adjunct therapy for more advanced Parkinson's Disease. Rasagiline is a second-generation, irreversible monoamine oxidase type-B (MAO-B) inhibitor that blocks the breakdown of dopamine. Dopamine is a substance in the brain needed to facilitate movement.

Its approval was based on the results of studies of more than 1,600 patients showing that Rasagiline monotherapy significantly improves motor symptoms and quality of life in patients with early PD. In addition, its adjunct use in patients with advanced disease significantly reduced "off time" and improved associated motor fluctuations.

Isrameds.com sells 30 tablets of the 1-mg Rasagiline medication for US$279.

Patients and physicians can learn more about Rasagiline by calling Isrameds.com toll free at 1-866-ISRA-BUY(477-2289) or visiting its website at www.isrameds.com.

Parkinson's Disease (PD) is a chronic, progressive neurodegenerative condition. The exact cause of PD is not known and is believed to be multifactorial involving genes, environmental factors and aging. Symptoms include tremor, slowness of movement, stiffness, gait and posture problems. As the disease progresses, symptoms worsen, the patient is likely to experience motor complications. Eventually, the disease impairs the patient's ability to function. PD affects men and women equally, and an estimated four million people worldwide suffer from the disease. The disease typically occurs at a late age, affecting approximately 1 percent of the population over the age of 65.

To learn more about Rasagiline and other Parkinson's Disease treatments and background on the condition, contact the European Parkinson's Disease Association (www.epda.eu.com) and the American Parkinson Disease Association (www.apdaparkinson.org).

Rasgiline was developed based on research by Israeli-based Teva Pharmaceutical Industries, Ltd. and Technion-Israel Institute of Technology. The drug is being developed and marketed in Europe by Teva and H. Lundbeck A/S. The treatment's brand name is "Azilect" in Europe and it will be called "Agilect" in the United States."

Media Contact: Michael Pirages, Pirages Communications (773) 7691616 EMediawire (24 May 2005)

Press Release: Pharmos Corporation to Present at the Bio-Tech Israel 2005 Conference

REHOVOT, Israel and ISELIN, N.J. (23 May 2005) - Pharmos Corporation (Nasdaq: PARS - News) announced today Seth Kindler, M.D., Medical Director of Pharmos, will present at the Bio-Tech Israel 2005 Conference in Tel Aviv at the David Intercontinental Hotel at 4:45 p.m. Eastern European Daylight Time on Tuesday, May 24, 2005. The presentation will outline the Company's research and development focus utilizing its rich library of proprietary synthetic cannabinoids as novel therapeutics to treat central nervous system (CNS) and systemic disorders including pain, inflammation and autoimmune diseases.

In his presentation Dr. Kindler will highlight the work underway at Pharmos in developing products from the Company's CB2-selective receptor agonist families that have potential application in large markets with unmet medical needs. Of particular focus is the development plan for cannabinor, the leading CB2-selective candidate, aimed at treating moderate to severe pain such as neuropathic, post-surgical and other types of pain. Cannabinor is planned to begin Phase I human testing in the second half of 2005. Dr. Kindler will also provide an overview of several other novel cannabinoid scaffolds in the discovery stage.

The conference objective, according to its organizers, is to address unmet needs in a more comprehensive manner by merging different approaches and technologies to improve the Human condition. The conference will focus on four disease areas: cancer, respiratory disorders, CNS and metabolic disorders. Last year's Bio-Tech Israel drew 4,500 visitors. More information on the event is available online at http://www.kenes.com/biotech/index.asp.

Pharmos discovers and develops novel therapeutics to treat central nervous system and systemic disorders including pain and diseases based on inflammatory and immuno-modulatory dysfunction. The Company has a proprietary synthetic cannabinoid platform technology with a library that includes families of CB2-selective receptor agonist compounds and dextrocannabinoid compounds that operate through pathways other than cannabinoid signaling. CB2-selective cannabinoids are in pre-clinical studies targeting pain, multiple sclerosis, rheumatoid arthritis and other disorders. Clinical development in pain indications is expected to commence during 2005. From the dextrocannabinoid family, dexanabinol has demonstrated potential value in a Phase IIa trial as a preventive agent against post-surgical cognitive impairment.

Statements made in this press release related to the business outlook and future financial performance of the Company, to the prospective market penetration of its drug products, to the development and commercialization of the Company's pipeline products and to the Company's expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties which may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos' filings with the Securities and Exchange Commission could affect such results.

Source: Pharmos
Further Info: Biz.Yahoo.com

Israeli Biotech on the Rise

"Israel is second only to the United States in the number of start-up companies. New innovations and technologies are being developed in the Internet, communications, biotech and software fields. 80% of Israel's 3,000 R&D companies are less than 10 years old.

Before beginning an exploration of Israel's developing biotech industry, it is important to understand what motivates Israelis and helps them become world leaders in these technological fields.

Upon completion of high school, Israeli youth begin their compulsory service in the military. For young Israelis, this is an accepted thing, and there are very few that try to dodge the service. Many youths utilize their army service to get a head start on what awaits afterwards. Because of high level hands-on experience, those soldiers who serve in the elite technical fields while in uniform come out of their service with skills that others with only a university education have a hard time matching. Many successful entrepreneurs in Israel are veterans of these elite units.

Another factor in Israeli technological advances is the commercial success of many Israeli companies. If Israeli computer freaks and geeks can make millions when they develop products like ICQ, this encourages others to try to imitate their achievements.

In addition to the role of the military and to the desire of young Israelis to imitate the commercial success of companies like those that developed ICQ, Israel has been rewarded with an influx of skilled personnel and technologies from the former Soviet Union. These new immigrants to Israeli society play key roles in many technologies and research institutes in the country.

One of every three Israeli scientists specializes in the life sciences. Relative to the size of the labor force, Israel has the highest number of publishing authors in the natural sciences, engineering, agriculture and medicine - the foundations of biotechnology. Israel's contribution to academic publications in biotechnology represents 1% of world output, carried out by only .001% of the country's population.

Because of the harsh environment, Israel's agricultural sector is based almost entirely on R&D. Breeding and genetic engineering have made Israel's cows world champions in milk production. A long-term project of "greening the desert" has produced more efficient irrigation technologies and drought tolerant plants.

It appears that Israeli biotech is experiencing the kind of rapid growth that was recently experienced in the United States.

(The annual Bio-Tech Israel 2005 Conference and Exhibition is taking place this week - May 24-26 in Tel Aviv.)"

Source: Yali Friedman and Ellis Shuman. Points of view: Israeli biotech on the rise. Israel21c (22 May 2005) [FullText]

Israel-based Teva "Actively Engaged in the development of products for biotech"

"CHICAGO -- Generic drug companies are laying the groundwork for copycat versions of expensive biotech drugs and hoping that regulators see their cheaper versions as key in the battle against soaring health-care costs. Bioengineered drugs made from complex proteins generally enjoy unlimited monopolies because no regulatory pathway exists in the key U.S. market for generic companies to copy them.

Unlike standard synthetic pharmaceuticals, which typically come in pill form, most biotech drugs are laboratory-altered forms of proteins, making them much more complicated to copy. So when Eli Lilly and Co.'s Prozac patent ran out several years ago, generics flooded the market, Lilly's profits plunged and consumers got a price break on the best-selling antidepressant.

But no generic firm, under current U.S. regulations, can use the same process to copy Insulin, the gold standard genetically-altered hormone used to control blood sugar in diabetics, a treatment first discovered in the 1920s. A steady stream of biotech drugs are hitting the market to serve an aging population, and their costs dwarf the price of conventional pharmaceuticals.

For example, Genentech Inc.'s Avastin for colon cancer costs insurers and patients thousands of dollars a month. A majority stake in the company is held by Swiss drugmaker Roche Holding AG .

"When you look at the numbers, you see an explosion in the field, and we believe this represents a significant opportunity" for generic versions of biotech drugs, said George Barrett, North America president for Teva Pharmaceutical Industries Ltd. the world's biggest stand-alone generic drug maker.

Israel-based Teva is "actively engaged in the development of products for biotech," he said.

Another generic player, Barr Pharmaceuticals Inc. made a deal in March with Croatian drugmaker PLIVA to make a generic version of Amgen Inc.'s Neupogen, a biotech drug used to reduce chemotherapy-related infections.

Cost Saver: Generics are generally chemical copies of branded drugs with expired patents. Use has flourished in recent years, especially in the U.S. as employers and governments struggle with double-digit increases in medical costs.

Generics represent half of the drugs dispensed in the U.S., but just roughly 12 percent of every dollar spent on health care, according to the generics industry group.

At the same time, spending by employers and governments on treatments for cancer, a major therapeutic area for biotech, is increasing at twice the speed of traditional pharmaceuticals, according to pharmacy benefits manager Medco Health Solutions Inc.

The rapidly escalating biotech costs have spurred U.S. employers to lobby in Washington for a way to get FDA approval for the drugs.

Biotech drugs account for about 10 to 15 percent of health-care spending, which is rising 20 percent annually at DaimlerChrysler, the world's fifth biggest automaker.

"We support some type of guidance on how generics can be manufactured for bioengineered drugs," said Roger Panella, a senior health benefits manager at DaimlerChrysler.

The FDA, for its part, is working on a guidance document for the generics industry to follow, but it has been delayed several times. Some believe the FDA would like Congress to pass legislation authorizing it to do that.

"At Teva, we believe the FDA has that right today," Barrett said, echoing the industry's position.


"FDA Blinked": The FDA recently rejected a bid by Swiss drugmaker Novartis AG's generic unit Sandoz to make a generic form of human growth hormone, a synthetic hormone used for children with growth-stunting disease.

"The FDA blinked and wrote them a letter saying there are still scientific and legal issues," said Ira Loss, a health-care policy expert at Washington Analysis.

Europe looks likely to be the first major market for generic biotech drugs. The European Medicines Agency has guidelines for biogeneric products and could approve a product as early as this year.

Biologics contain large molecules, whose exact structure can vary according to manufacturing processes, which, the brand name industry argues, would make the products inferior.

For the U.S. market, though, the generic firms have several years to wait. Because most of the high-priced biotechs are not losing their patents in the immediate future, the cost explosion is still a few years off, analysts said.

"They are not at the precipice yet" in terms of cost burden, Loss said."

Source: Kim Dixon: Generic firms lay groundwork for biotech drugs. Reuters (21 Mat 2005) [FullText]

Israeli Company that Genetically Modifies Trees Expects to Break Into the Market for the Green Gasoline Substitute Ethanol in Five to 10 Years

"An Israeli company that genetically modifies trees expects to break into the market for the green gasoline substitute ethanol in five to 10 years, a director of the company said on Wednesday.

Ethanol - which can be mixed with gasoline to produce a cleaner transport fuel - is now made from sugarcane and maize. But the next step for the industry would be making ethanol from farm waste and a huge range of other plants or trees.

Israel's CBD Technologies introduces one gene into poplar trees to increase the size of the plant. The firm is carrying out field trials in Israel and Ziv Shani, head of research and development for the company, said poplars grew to twice the size in two years with the additional gene.

"I'm sure there will be ethanol production from trees, it's just a matter of time ... The market will be here I guess in five to 10 years' time, hopefully. When there's a market, we'll be ready," Shani told Reuters on the sidelines of a biofuels conference in Seville.

Genetically modified trees are not currently sold except in China, Shani said, and in Europe using gene-enhanced trees would likely spark protest from ecologists. Environmental activist group Greenpeace opposes GM trees for any use.

CBD Technologies' initial target market is the pulp and paper industry and it hopes to launch a trial this year with eucalyptus trees in Brazil with its partner there, pulp firm Cia Suzano de Papel e Celulose.

Once the technology has been developed to change so-called biomass into ethanol, a huge range of products could be used in the industry, experts say.

Gerson Santos-Leon, director of research and development for Europe's leading ethanol producer, Abengoa Bioenergy, told Reuters GM trees represented a "promising area" but only in some parts of the world because of opposition to GM use in Europe.

Abengoa Bioenergy expects biomass to be commercially viable by 2015. "The question is always going to be if the public accepts it," he said."

Source: Israel firm eyes ethanol market with biotech trees Print Version. Checkbiotech.org (press release) - Basel,Switzerland (19 May 2005) [FullText]