Blood test co RapiDx wins FDA registration

RapiDx is a portfolio company of TechnoPlus Ventures Ltd.

Blood test developer RapiDx has received authorization of successful registration of its Rapid Ring device with the US Food and Drug Administration (FDA). RapiDx is a portfolio company of TechnoPlus Ventures Ltd. (TASE:TNPV).

TechnoPlus owns 5.73% of issued share capital of RapiDx, and 11.32% on a fully diluted basis.

The FDA registration allows RapiDx to sell Rapid Ring in the US.

Rapid Ring fits around the finger and allows quick and effective drawing of blood without need of a medical professional. The company says it reduces the pain of the lancet, and is intended for single use.

Rapid Ring can be integrated with various existing blood drawing systems, and can be an effective solution to the problem of drawing enough blood from the patient's finger.

TechnoPlus said that RapiDx intends to turn to strategic organizations in the US diagnostics market for the distribution and sale of Rapid Ring, and to continue to develop other products.

Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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