Cancer screening company BioView Ltd. (TASE:BIOV) has signed a cooperation agreement with Abbott Molecular Inc., under which Bioview will develop in automated cancer screening system to carry out Abbott's lung cancer diagnostic test.
Abbott Molecular's current test to distinguish between different kinds of lung cancer, in order to provide the proper treatment, is carried out manually by a laboratory technician. Automating the test will save time and effort, and improve accuracy.
BioView has already applied its technology to other Abbott Molecular tests for breast and bladder cancer. Each time that these tests were approved, they boosted BioView's sales by millions of dollars.
Under the new collaboration, the two companies will jointly conduct clinical trials of the automated lung cancer test in order to certify it for marketing in the US. Abbott's manual test is already certified by the US Food and Drug Administration (FDA). The companies estimate that this process will take several months.
Published by Globes [online], Israel business news - www.globes-online.com - on November 28, 2012
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