Sialo Technology Israel Ltd. (TASE: SALO) has obtained US Food and Drug Administration (FDA) approval for the company's first product, a balloon that expands the salivary gland for endoscopy treatment of salivary gland stones.
Sialo founder Prof. Oded Nahlieli jointly developed the minimally invasive technique for removing of salivary gland stones with Karl Storz of Germany. Karl Storz began marketing the system worldwide, including in the US, while Nahlieli went on to found Sialo in order to develop disposable peripheral products for the surgical procedure. Sialo is also developing other products, including endoscopes for root canal work and the repair of knee cartilage, and a laser device for destroying salivary gland stones.
In addition to the balloon, Sialo is marketing stents and a basket for the collection of salivary gland stones. Both products have obtained EU CE Mark certification, and the company has applied for FDA certification as well.
Sialo posted NIS 977,000 revenue in 2007. It has a market cap of NIS 31.6 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 19, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
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