XTL Biopharma files to raise $40m on Nasdaq
InsuLine chairman: The trial is being managed by leading Israeli and world experts on diabetes in order to receive marketing approval for the US.
Diabetes treatment development company InsuLine Medical Ltd. (TASE: INSL) has launched a clinical trial in Israel to investigate the effectiveness of its InsuPatch catheter for insulin pumps for the treatment of type 1 diabetes.
The trial, which is based on US Food and Drug Administration (FDA) protocols, is part of a broader trial which is also being carried out in the US. The results should be published by the third quarter of 2011.
InsuLine chairman Ilan Cohen said, "The trial for the effectiveness of InsuPatch, is being managed by leading Israeli and world experts on diabetes in order to receive marketing approval for the US. We already hold marketing approval for Europe. In previous trials, in similar circumstances to FDA protocols, we got results that proved effectiveness of the device showing a significant shortening of the amount of time to reach peak concentration of insulin in the blood. It is important to mention that in these trials it was proven that InsuPatch standard technology is preferable to current solutions on the market."
The Israeli trial will take place at Wolfson Medical Center in Holon and will be led by Dr. Julio Weinstein, president of the Israel Diabetes Association and director of the hospital diabetes clinic. Lead researcher will be Prof. Itamar Raz, chairman of the National Council for Diabetes and director of Hadassah University Hospital's Diabetes Unit at Ein Kerem in Jerusalem.
InsuLine's share price was up 4.8% in early afternoon trading on the TASE to NIS 1.20.
Published by Globes, Israel business news - www.globes-online.com - on November 9, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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