XTL Biopharma files to raise $40m on Nasdaq
The company's InsuPatch reduced the time insulin reached its peak effect on blood sugar levels after meals by 31%.
InsuLine Medical Ltd. (TASE: INSL) today reported successful interim results in a joint study with Yale University of the company's insulin patch, InsuPatch. The company said that the patch reduced the time insulin reached its peak effect on blood sugar levels by an average of 31%.
Average time of peak effect was 95 minutes after a meal with the InsuPatch compared with 138 minutes after a meal without it.
Insuline and Yale will present the results of the study at the annual International Society for Pediatric and Adolescent Diabetes (ISPAD 2010) in October.
Insuline began the clinical trial of the InsuPatch in late 2009 at Yale, to test the effectiveness of the patch in children. Yale is financing the study. The company obtained an Investigational Device Exemption (IDE) from US Food and Drug Administration (FDA) for the InsuPatch in December 2009.
Each patient is tested twice in the trial, once with the InsuPatch, and once without it. The trial is due to continue through December 2010.
Prof. Willliam Tamborlane, head of the department of endocrinology and childhood diabetes at the Yale School of Medicine, is heading the trial. He said, "The results achieved in the trial of the InsuPatch to date are impressive. We're very proud that we can present them at the upcoming ISPAD conference in October."
InsuPatch's share price rose 9.5% in morning trading on the TASE to NIS 0.99, giving a market cap of NIS 52 million. The company went public two weeks ago.
Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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