ITGI jumps on new stent, EU CE Mark approval

The company has completed development of its next-generation AneuGraftDX pericardium covered stent - stents coated with live tissue.

Stent developer ITGI Medical Ltd. (TASE:ITGI) today announced the completion of its next-generation AneuGraftDX pericardium covered stent - stents coated with live tissue. The new stents passed quality, reliability, and safety tests, and, last week, obtained EU CE Mark certification for sales.

ITGI's share price rose 4.9% in morning trading on the news to NIS 0.407, giving a market cap of NIS 28 million.

The new stents have a narrower diameter than their predecessors, making it easier and faster to insert into deeper locations while overcoming bends in arteries. They are suitable for insertion via the radial artery, which is narrower than the femoral artery. The new stents are also easier to sterilize and do not require prior preparation for catheterization procedures.

ITGI believes that the new stents will be cheaper to produce than current ones.

ITGI has developed a proprietary method for developing stents from living tissue, which preserves the tissue without the need for special fluids, and preserves the tissue's genetic and other factors.

Published by Globes [online], Israel business news - www.globes-online.com - on May 8, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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