ITGI wins $1m stent order for clinical trial

Hospitals in the company's own clinical trial will pay full price for the stents.

18 February 10 18:05, Gali Weinreb

ITGI Medical Ltd. (TASE:ITGI) has received a $1 million order for 1,000 stents by 20 hospitals in Israel and Europe. The use of the stents will be part of a large clinical trial that the company is conducting for marketing purposes, but the hospitals will pay full price for them.

The trial is due to last three years, although preliminary results are expected in 2011 and further results in 2012. Good results from the trial could give ITGI's competitive position a strong boost. The company's Over-and-Under heterologous tissue covered stent already has EU CE Mark Certification, and the company has applied for US Food and Drug Administration (FDA) approval.

ITGI's share price rose 0.5% today to NIS 0.64, giving a market cap of NIS 41 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2010

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