Compugen takes small step toward large markets (CGEN)
Compugen Ltd (CGEN) this morning announced positive therapeutic effects of a novel peptide in an animal model of treating inflammatory bowel disease – a small step toward two large potential markets.
Shares are up more than 25% on strong early volume.
The company said that in a recently completed study of TNBS-induced colitis, the administration of CGEN-25007 protected mice from the effects of lethal colitis. Study data showed an increase in survival rate and reversal of weight loss.
The company says the results suggest that its CGEN-25007 peptide could have a potential therapeutic utility to treat IBD and other autoimmune diseases with a strong inflammatory component, such as rheumatoid arthritis.
Both IBD are large addressable markets; Rheumatoid arthritis affects as much as 1% of the adult population worldwide. — Mike Tarsala