Former Pfizer, current Centrexion CEO joins Israel’s Pharma Two B’s board of directors after leading $30M worth third financing round

Former Pfizer and current Centrexion Therapeutics CEO Jeffrey Kindler will be joining privately held Israel’s drugmaker Pharma Two B’s board of directors, as the company completed its third round of financing, raising $30 million, with Israel Biotech Fund (IBF) leading the procedure. Kindler joined Pharma Two B’s as a member of Israel Biotech Fund’s Venture Advisory Team. 

The company will turn funds to wrap up the final pivotal phase III clinical trial necessary for registering its lead drug candidate for treatment of Parkinson’s disease. This round will enable Pharma Two B to expand its portfolio to include additional products.

Pharma Two B’s Founder & Chairman, Ehud Marom, said: “We are thrilled by the strong support of our existing investors, and by the addition of our new investors. We are confident that with their assistance, Pharma Two B can build a thriving commercial biopharmaceutical company. The presence of IBF in the Israeli Biotech space is something we have all been waiting for. Their rigorous scientific and clinical due diligence and deep networking capabilities present a significant contribution to the investment landscape in Israel.”

The phase 2 b trial for P2B001 has met all end-points and showed efficiacy and safety of the low dose combination product. The company’s CEO, Nurit Livnah believes that phase 3 will follow the same path and the PsB001 could be brought to the market soon.

“Parkinson’s disease is defined as the second most prevalent neurodegenerative disease, treated mostly with Levodopa today. P2B001 has the potential to initially fill a significantly unmet need in the treatment regime for early stage Parkinson’s disease patients and could be expanded into treatment as an add-on to Levodopa as well,” said Livnah.

On joining the board, Kindler said: “I was impressed by the strong leadership team and by the work done so far by Pharma Two B. I’m excited to join its board of directors. Our goal is to provide a safe and effective solution to early-stage Parkinson’s patients which would allow them to maintain a regular daily regime in the early years of onset.”