Iranian Businessman Holds Clinical Trials in Israel for Cancer Drug

Heshmatpour said he believes Israel and a future post-regime Iran could one day work together in the region.

By Shula Rosen

NeOnc Technologies Holdings plans to begin clinical trials in Israel within two months for a nasally administered brain cancer treatment, following meetings between its CEO, Amir Heshmatpour, and Prime Minister Benjamin Netanyahu, Globes reports.

Heshmatpour, an Iranian American biotech investor who now leads the Nasdaq-traded company, said documents have been submitted to start trials with Prof. Dvora Blumenthal at Ichilov Hospital.

He described Israel as the most advanced biotech environment in the region and said the country is likely to move faster than others in approving and conducting the studies.

The company is also running trials in the United States at 16 university hospitals and has opened a branch in the United Arab Emirates after signing a $50 million strategic agreement with Abu Dhabi-based Quazar Investments, including $35 million paid immediately.

NeOnc, founded by USC brain surgeon Prof. Thomas Chen, is developing a treatment delivered through the nose to bypass the blood-brain barrier, a longstanding obstacle in treating brain diseases.

The drug has completed a Phase 1 trial and is now in two efficacy trials for patients with various brain cancers. According to Heshmatpour, the FDA has authorized the company to include Stage 3 patients in addition to Stage 4 patients in testing. He said 24 patients are currently in remission.

Heshmatpour met Netanyahu during the prime minister’s visit to Florida, where he was also a guest at President Trump’s estate.

He later posted photos from meetings in Israel, including with Foreign Minister Gideon Sa’ar and Rabbi Yoshiyahu Yosef Pinto.

He said the images drew threats and accusations online. “People who see my picture with Bibi told me that I must be a Jew or shout at me that I should convert to Judaism. But I’m not Jewish,” he said.

Married to a Jewish woman, Heshmatpour said his connection to Israel predates the company’s expansion. He grew up in Iran and left as a child after his father, a businessman, was arrested and tortured following the fall of the shah. He said he believes Israel and a future post-regime Iran could one day work together in the region.