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Last updated on April 20, 2014 at 21:20 EDT

AIT Completes $1.25 Million Raise

December 5, 2012

PETAH TIKVA, Israel, December 5, 2012 /PRNewswire/ –

The Israeli biotech company AIT (http://www.ait-pharm.com) announced today it
completed a $1.25 million raise. This funding will enable the company to begin two
clinical trials.

        - Clalit Health Services, the largest Israeli health fund, through its
          Soroka Medical Center in Beersheba, Israel, and Mor Research Applications Ltd., will
          participate in research and clinical trials.
        - The University of British Columbia in Vancouver, Canada, licensed the
          technology to AIT.

AIT specializes in the development of formulations based on nitric oxide (NO) for
infectious lung diseases. The company is owned by Mor Research Applications. Mor is
involved in the management and commercialization of intellectual property for Clalit
physicians.

Bronchiolitis, an infectious lung disease caused by the respiratory syncytical virus
(RSV), is common in children and infants. It is a major cause of hospitalization and
infant mortality. Approximately 200,000 children under the age of five in developed
countries die every year from bronchiolitis. The disease affects the small airways in the
lungs and is accompanied by a runny nose, cough, and high fever. It is particularly
aggressive in infants, preemies, and others with compromised immune systems. In cases such
as these, if the patient is not treated in time, the virus can cause very serious
breathing problems, and may lead to death.

Today, the standard treatment for bronchiolitis consists of supportive care only
(oxygen inhalation, saline inhalations, and steroids) rather than treating the cause of
the disease (the virus). Antibiotics are ineffective against bronchiolitis since, in most
cases, it is viral.

Dr. Yossef Av-Gay, a director at AIT and a Professor at the University of British
Columbia in Vancouver, Canada states, “NO is a gas that is produced in the human body and
is responsible for a wide range of activities from the expanding of blood vessels to
fighting infections. Now, for the first time, AIT is starting Phase II clinical studies
after a successful Phase I trial conducted at the University of British Columbia under the
supervision of Dr. Chris Miller. I believe that we are on the verge of a breakthrough in
the treatment of lung infections with new drugs based on nitric oxide.”

Professor David Greenberg, senior doctor at the Pediatric Infectious Disease unit at
Soroka, said, “Every winter, we are flooded with infants with bronchiolitis and others who
require respiratory intensive care due to narrowing of the windpipe. Now, there is no cure
for this condition. The new drug could revolutionize treatment of this disease for Soroka
patients. The body’s immune system uses nitric oxide gas in its natural state as its first
line of defense against viruses and bacteria. Toddlers and infants whose immune systems
are not yet fully developed are very sensitive to viral infections that exploit their
vulnerability. Using nitric oxide gas may give the required response for infants and
toddlers with pulmonary infections due to bronchiolitis.”

About AIT

AIT (http://www.ait-pharm.com) is an Israeli biomed company focused on the development
and commercialization of formulations from nitric oxide for the treatment of infectious
diseases. The company was founded in 2011 by Mor Research Applications of Clalit Health
Services and has successfully completed Phase I trials. AIT develops products for the
treatment of brochiolitis, cystic fibrosis, pneumonia, asthma, and influenza.

CONTACT INFORMATION

        Racheli Vizman (racheli@ait-pharm.com)
        Mobile: +972-52-565-9922

http://www.ait-pharm.com

SOURCE Advanced Inhalation Technology (AIT) Ltd.


Source: PR Newswire