Glycoanalysis (blood sugar analysis) company ProCognia (Israel) Ltd. (TASE:PRCG) has bought proprietary technology and intellectual property from two entrepreneurs. The technology makes it possible to identify cancer cells on the basis of their sugar structure and to transfer a kill signal to the cell.
On the basis of this discovery, the entrepreneurs developed a process for the rapid and efficient identification of human antibodies that will make possible the treatment and selective identification of cancer cells, which may lead to the development of specific diagnostic tools and drugs for different types of cancer.
The entrepreneurs also transferred to Procognia a licensing and development with Tel Aviv University's technology transfer arm Ramot at Tel Aviv University Ltd. for the use of the human antibody molecules as part of the technology acquired by Procognia.
Procognia will pay the entrepreneurs and Ramot royalties on future licensing agreements and/or from future sales of the technology. Procognia will have exclusive commercialization rights.
A feasibility study by the entrepreneurs isolated a number of antibodies to lung cancer, which were selectively tested on cancer tissue. They also modeled the killing capacity of human lung cancer cell cultures. The antibodies may also be usable for early detection via blood tests, biopsies, and new medical imaging markers to find patients considered suitable for treatment.
In a separate development, Procognia announced that the Office of the Chief Scientist has approved funding for half of a NIS 1.5 million project to develop a treatment for lung cancer.
Procognia is based at the Minrav High Tech Park in Ashdod. Its share rose 12.5% to NIS 0.90 by early afternoon, giving a market cap of NIS 17.5 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009