Hadasit and Anadis in JV for drug development

Jerusalem, Israel-based Hadasit and Australia's Anadis have revealed their intention to form a new joint venture company, tentatively called Immuron. The mandate of the new firm is to develop a new line of therapeutic products for the treatment of several inflammatory and infectious diseases and cancers.

The products will be based on a combination of intellectual property from Hadasit and Anadis, with the former contributing user-specific methods for the treatment of immune mediated disorders and cancer.

"Hadasit is well known for its enormous pool of IP. It also has a superb reputation as a center-of-excellence for preclinical and early-stage clinical practice. Their clinical deliverables, integrity, and overall commitment to creating therapeutics that will have a positive global impact make partnership with Hadasit a natural choice," said Oren Fuerst, vice president for business development at Anadis and chief executive of Immuron. "I anticipate that over the next five years the competitive landscape of biotherapy will be completely altered, with our new venture playing a central role," he added.