The invention discloses compositions, methods and kits for use in treatment of diseases associated with CNS inflammation such as multiple sclerosis. The composition includes therapeutically effective amount of (1-H indazole-4yl-)methanol. Further, a method of inhibiting glial maturation factor beta (GMF-β) phosphorylation activity in cells is disclosed. The method of treating subjects includes administering a therapeutic effective amount of the composition. The administered composition suppresses the activity of the overexpressed GMF-β either by binding or blocking its phosphorylating sites and ameliorating the inflammatory condition. The disclosed compositions, methods and kits may be used in the treatment of diseases like multiple sclerosis, Alzheimer's disease, Parkinson's disease or cancer.