Micromedic: The test can improve diagnosis of prostate cancer, avoid biopsies, and save money.
Micromedic Technologies Ltd.'s (TASE:MCTC) share price skyrocketed over 75% today, after the company reported positive results in a trial of its prostate cancer diagnosis solution from a urine sample using the CellDetect technology developed by its Zetiq Technologies subsidiary .
The trial results showed that when the CellDetect technology was used to diagnose samples from 18 patients and healthy subjects, both groups were accurately diagnosed.
The company believes that development of this non-invasive test is likely to improve diagnosis of prostate cancer, avoid unnecessary biopsies, and save the health system hundreds of thousands of costly tests.
Micromedic is a biotech company that invests in diagnostic and treatment research. The company's current market cap (after the today's rise) is NIS 13.8 million, after losing 60% since the beginning of the year.
Micromedic is a unit of Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT), managed by CEO Suzana Nahum-Zilberberg who serves on Micromedic's board
Published by Globes [online], Israel business news - www.globes-online.com - on July 7, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Suzana Nahum Zilberberg