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Second quarter revenue rose 11.8% to $13.8 million, and the drug development company raised its full-year revenue guidance to $72 million.
Kamada and Chiesi enter into a strategic agreement for the distribution of Kamada's inhaled AAT drug for treatment of Alpha-1 antitrypsin deficiency in Europe, Turkey and former CIS countries.
The increase was attributable to the rapid sales growth of Glassia, one of the first proprietary drugs developed in Israel to win FDA approval.
The trial is testing an innovative breakthrough treatment for Type 1 diabetes, which does not use the only current treatments of insulin and diet. D1-AAT may slow progression of the disease, and may greatly reduce, or completely eliminate, the need for insulin. This will stabilize the condition of diabetics and/or reduce or prevent serious complications of the disease.
CEO David Tsur: We expect to complete the European trial of inhalable AAT in 2013 and prepare for a US trial
Kamada Ltd. (TASE: KMDA) has obtained Food and Drug Administration (FDA) approval to conduct a clinical trial in the US for the company's next generation drug – an inhalable version of AAT (Alpha-1 Antitrypsin deficiency) for the treatment of cystic fibrosis.
The drug developer received approval for its AAT (Alpha-1 Antitrypsin) drug that treats chronic emphysema due to congenital deficiency.
In June, Kamada began a Phase I/II clinical trial of D1-AAT treatment at two medical centers in Israel. The company expects to publish interim results in early 2012, and the final reports later in the year.
The Israeli Ministry of Health has approved the trial protocol to test the safety profile and efficacy of the drug for this indication. The trial will be conducted at two Israeli medical centers by Contract Research Organization under an agreement with Kamada.
This is the second patent issued to Kamada under the same title after being granted with the same patent title by the United States Patent Office (USPTO).