Glycominds Ltd. (TASE: GLCM) has signed agreement with a preferred provider organization (HMO), which covers 15 million persons in the US to provide insurance indemnity for its gMS Dx blood test kit for multiple sclerosis. This is the company's second insurance indemnity agreement in the US this week, following its agreement with a company that covers five million people. Glycominds did not disclose the names of either insurance provider.
The latest agreements expand indemnification of Glycominds' gMS Dx diagnostic kit to 50 million people in the US. Glycominds added that the agreement was an important step in implementing its marketing strategy in the US.
Glycominds has developed two blood tests that check biomarkers for the likelihood of developing multiple sclerosis and of its progression, and the IBDX blood test for inflammatory bowel disease.
Glycominds' share price rose 2.4% in morning trading to NIS 0.65, giving a market cap of NIS 28 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2012
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