The consortium will develop a system to screen for cancer of the gastrointestinal tract.
Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) has received approval from the European Commission of the Sixth Framework Programme for Research and Development (2002-2006) to lead a consortium that will develop an integrated imaging-biosensing system to screen for cancer of the gastrointestinal tract. The "Nano-based capsule-Endoscopy with Molecular Imaging and Optical biopsy" (NEMO) project was launched in Tel-Aviv in November 2006.
Other members of the consortium include includes Zarlink Semiconductor Inc. (NYSE; TSX:ZL) of Sweden and UK, Fraunhofer Institute for Biomedical Engineering, Israelitic Hospital and Indivumed of Germany, Imperial College of Science, Technology and Medicine in London, ITC-irst Research Institute of Italy, the Hebrew University of Jerusalem, Novamed and Ernst &Young (Israel).
The NEMO Group will invest €4.7 million over the next three years, of which the European Commission will contribute €2.8 million. Given Imaging will contribute a gross €1.3 million and net €600,000. The project aims to increase patient compliance with currently recommended screening guidelines by developing an advanced cancer screening system for early detection of cancer. To achieve this NEMO will integrate optical technologies with Nano-technologies, biosensing and maneuvering technologies to create a unique PillCam capsule endoscope capable of secretion analysis and the detection of marked and deep tissue disorders. The consortium believes the combination of the image and molecular analysis to mark the tumor may provide a novel and effective medical device for mass screening for gastrointestinal cancer.
Published by Globes [online], Israel business news - www.globes.co.il - on January 17, 2007
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