Medigus Ltd. (TASE:MDGS), which has developed a device for treating Gastroesophageal Reflux Disease (GERD)., announced today that it had developed a new device based on the technology of its existing product for the treatment of congenital defects in the join between the ureter and bladder, which exist in 1% of the population. The company said it was currently working on preliminary trials of the new application.
Medigus’s existing product, which has obtained CE Mark certification, and is about to be used in a pilot project in a hospital in Australia, is a device for treating GERD by stapling stomach tissue around surrounding the esophagus. This stapling is normally done by a surgical procedure. Medigus’s method uses a flexible endoscope guided by ultrasound and a camera to carry out the stapling without the need for surgery.
Medigus is interested in applying the same stapling technique in urethral surgery. Currently, defects of this kind are also repaired by another non-surgical procedure, in which polymeric material is injected into the area to bond the detached organs together, although Medigus claims that this method requires a number of sessions to achieve the desired effect. In addition, the company also plans to market the new treatment at a lower cost than that of the polymeric injections.
Medigus CEO Elazar Sonnenschein said, “The new product is very similar to the existing one, and we therefore believe that we can develop it within a relatively short period and at a low cost. We expect to be able to proceed to clinical trials within 10-12 months and that the total cost of development will amount to $2 million.”
Published by Globes [online], Israel business news - www.globes.co.il - on July 5, 2006
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