Obecure to Investigate Effect of Flagship Drug on Cholesterol

Press Release

Feb. 11, 2007

Obecure Ltd. announced today that it is expanding its activities and will conduct further studies on its flagship drug OBE 101.

Obecure, a biopharmaceutical company dedicated to development of weight control therapies, will investigate the effectiveness of the drug in lowering lipid levels in the blood, including triglycerides and “bad” cholesterol (LDL.)

This use for OBE101 will be the third indication which the company is investigating for this drug, together with treating obesity and preventing weight gain among those who are taking anti-psychotic medications.

Obecure intends to conduct a clinical trial enlisting patients who are already being treated with statins, the medication commonly used to reduce cholesterol. These patients will not necessarily suffer from overweight or obesity.

For the purpose of the trial, the company has signed an agreement with the company Pharma Clinical Ltd., a contracting company that specializes in conducting clinical trials (CRO)

The company is currently in the final stages of preparation for the submission of requests for approval of the trial protocol to the proper authorities.

Within the framework of the trial, which will take place at a medical facility in Israel, half of the participants will be treated with Obecure’s OBE101, and half will take a placebo as control, with the goal of assessing if OBE101 can reduce the fat levels in the blood of the patients as compared to the control group. The company estimated the total costs of such a trial at $300,000 and will carry it out over the course of 2007.

High cholesterol levels increase the risk of disease in the heart and arteries. The market for cholesterol-lowering medication worldwide has already surpassed $25 billion, with statin medications being the dominant amongst them, with 90 percent of the market.

Dr. Yaffa Beck, CEO of Obecure, said today. “Together with the sharp increase in obesity worldwide, has come an increase in the number of people who suffer from a high level of cholesterol and other lipids in the blood. In light of the effect of Obecure’s drug on the desire to consume fatty food, we hope that OBE101 will improve and assist patients maintain a balances level of fats in the blood and make a substantial impact on the quality of life of millions of people.

The trial investigating the effectiveness of the drug OBE101 for reducing lipids such as cholesterol in the blood is the fourth round of trials that Obecure is scheduled to carry out over the course of 2007.

Last week it was reported that Obecure had begun Phase II clinical trials in the United States for the use of treating obesity. In addition, the National Institutes of Health (NIH) will begin a clinical trial to investigate the mechanism operating in Obecure’s drug for treating obesity in the upcoming year.

Also, Obecure has received the approval of Canadian authorities to carry out Phase II clinical trials to investigate the ability of its drug to prevent weight gain among patients who are taking the anti-psychotic medication Zyprexa., which is used for the treatment of schizophrenia. The trials have received the support of the pharmaceutical manufacturer Eli Lilly, which markets Zyprexa, which is partially funding the trials.