The colon cancer diagnostic firm hopes for EU CE Mark certification within a year.
Micromedic Technologies Ltd. (TASE:MCTC) portfolio company Bio Mark Ltd. has completed the feasibility study of its non-invasive early colon cancer detection product. 89.2% of cases examined correctly identified Adenoma (early-stage cancer).
Micromedic CEO David Solomon told "Globes" that Bio Mark would target the product for the US market after the European market. The company plans to submit the results for EU CE Mark certification, which he predicted would take up to a year to obtain.
Detection of colon cancer is currently a painful procedure, involving an invasive and expensive colonoscopy, ususally conducted every 5-10 years. Medical authorities advise an annual examination. Bio Mark's diagnostic test uses an ordinary blood sample, enabling more frequent testing. Solomon said that the colon cancer diagnostic market is worth $10 billion a year.
Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2008
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