Kitov Pharmaceuticals, a late-stage drug development company with operations in Israel and the US, has hired Gil Ben-Menachem as Vice President Business Development.
The appointment follows Kitov's recent announcement that the Phase III trial of its lead drug candidate KIT-302 successfully met its primary endpoint. A combination drug, KIT-302, simultaneously treats osteoarthritis pain as well as hypertension, which is a common side effect of non-steroidal anti-inflammatory (NSAID) drugs.
Ben-Menachem has more than 15 years of experience in the pharmaceutical, biotechnology, and venture capital industries. He was most recently Head of Innovative Products at Dexcel Pharma, the second-largest Israeli pharmaceutical company.
Prior to this he was Director of Business Development at Teva Pharmaceutical Industries, where he was responsible for business development efforts leading to partnering and acquisition deals valued at more than US$500m for late-stage innovative drug candidates.
Ben-Menachem has also served as CEO of OphthaliX, a company that developed drugs in the ophthalmology space, and as Director of Business Development at Paramount Biosciences, a New York based merchant bank and biotechnology venture capital firm.
'I am honoured and delighted to take this position at Kitov,' said Ben-Menachem. 'With Kitov's lead drug candidate, KIT-302, being prepared for NDA submission, the business development prospects awaiting Kitov are exciting. I look forward to facilitating the partnering of KIT-302 and to expanding Kitov's pipeline.'
