FDA approves BioView lung cancer scanning system

The Duet system has been approved for detecting mutations in lung cancer patients.

BioView Ltd. (TASE:BIOV) has attracted a great deal of attention on the Tel Aviv Stock Exchange (TASE) following its announcement that the US Food and Drug Administration (FDA) has approved its Duet scanning system for the detection of mutations in lung cancer patients. The company's share price was up 18.7% in early afternoon trading on the TAse to NIS 3.45.

BioView president and CEO Dr. Alan Schwebel said, “We are pleased to receive FDA approval for the new application. This, along with our distribution agreement with Abbot Molecular and the broad range of applications will allow us to continue to penetrate the pathology lab market and to position BioView as a world leader.”

According to a statement by the US National Cancer Institute, lung cancer is the cancer with the highest mortality rate around the world. In the US, there are more than 250,000 new diagnoses, and more than 160,000 deaths annually.

Published by Globes [online], Israel business news - www.globes-online.com - on May 14, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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