Shares in LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) rose sharply today after the company announced the successful completion of a series of treatments of its Best Sore Treatment (BST) electrical stimulation medical device for chronic wounds on 39 patients. The company's share rose 14.4% by mid-afternoon to NIS 8.66, giving a market cap of NIS 104 million.
The trial was supervised by Professor Elia Ricci in Turin, Italy. The trial aimed to consolidate documentation of BST's action as part of assessments for approval and treatment reimbursement from the authorities in Italy and other countries, as well as in order to progress toward US Food and Drug Administration (FDA) approval.
The trial of BST was on chronic wounds, which had not healed for at least four years, and in some cases for at least ten years, and which had not responded to standard treatments, such as negative pressure wound therapy (NPWT), tissue implants, and biotechnical therapies with growth factors. The BST therapy succeeded in completely closing of the chronic wounds in 60% of the patients, and significantly improved the wounds in the other 40%, by closing at least 40% of the original wound.
The group of patients included patients suffering from central nervous system disorders, which severely hamper the curing of chronic wounds. BST closed the wounds of 70% of these patients.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2009
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