LONDON, Oct 17 (Reuters) - Keryx Biopharmaceuticals , an Israeli biotech listed on Nasdaq and London's junior Alternative Investment Market, said on Tuesday it aimed to raise its profile with a move to the UK's main market early next year.

The firm specialises in finding drug candidates that target protein kinases, chemicals which play a key role in the way cells communicate. It expects to start two sets of clinical trials in the first quarter of 2001, qualifying it for promotion to a full listing, Chief Executive Morris Laster told Reuters.

Keryx won a green light last month from the Food and Drug Administration to start Phase III trials -- the last stage in testing before marketing approval -- on KRX 101, a product it licensed in to treat kidney damage caused by diabetes.

The second trial involves early stage assessment of KRX 123, its most advanced product developed in-house, which is targeted against prostate cancer.

Keryx, which raised $46 million at its initial public offering in July, is not planning to raise any new funds from the change in London listing.

Laster said the company had cash resources for two years to fund its work on kinases. The stock, priced at $10 on IPO, was last trading $7/16 lower on Nasdaq at $12-15/16.

((London newsroom, +44 20 7542 5082, fax +44 20 7542 3722, ben.hirschler@reuters.com)) REUTERS

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