Johnson & Johnson will also contribute to the financing of clinical trials of Topspin's product.
Topspin Medical Inc. (TASE:TOPMD) has signed an exclusive, three-year agreement with Johnson & Johnson Israel for the distribution of its IntraVascular MRI catheter . The company did not disclose the size of the deal. Johnson & Johnson (NYSE: JNJ), which is one of Topspin's investors, has undertaken to market the product, and will also contribute to the financing of further clinical trials to test its long-term efficacy and the affect it has on decisions regarding treatment.
Topspin's device, which recently obtained EU CE Mark marketing approval, is a MRI device connected to a catheter, which enables blood vessels to be analyzed for risk of possible rupture. The key challenge facing the company at present is securing collaborations with leading cardiovascular device companies and physicians, with a view to developing a protocol for the treatment of blood vessels at risk of rupturing. At present there is no specific treatment for this disorder, which is why the long-term efficacy trials, in which Johnson & Johnson has undertaken to participate, are crucial.
Published by Globes [online], Israel business news - www.globes.co.il - on July 30, 2007
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