XTL Biopharma files to raise $40m on Nasdaq
The test, which examines the patient's sputum, was first developed at the M.D. Anderson Cancer Center at the University of Texas.
BioView Ltd. (TASE:BIOV) has concluded a cooperation agreement with Clarient Inc. (Nasdaq: CLRT) for the development of a non-invasive diagnostic test for the early detection of non-small cell lung cancer (NSCLC). The test, which examines the patient's sputum, was first developed at the M.D. Anderson Cancer Center at the University of Texas. The test is expected to be administered for the early detection of lung cancer in smokers and other at-risk groups.
According to the National Institute of Cancer of Cancer in the US, lung cancer has the highest mortality rate of any cancer with 250,000 people diagnosed with the condition every year in the US alone where there are 160,000 fatalities annually. NSCLC is the most prevalent type of lung cancer, representing 85% of cases of the disease.
Rehovot-based BioView's innovative test is performed by DNA biomarkers developed at the M.D. Anderson Center. The company owns the exclusive license to the test.
BioView's share was down 0.52% to NIS 1.15 in early afternoon trading today. He share of Clarient, which is based in Aliso Viejo, California, closed on Monday at $2.37, giving a market cap of $185.87 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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