ProCognia (Israel) Ltd. (TASE:PRCG) today announced that it has obtained a new patent in the US for the company's glycoanalysis technology for the protein structure of blood sugars. The news sent the company's share price up 13.4% by midday, but it quickly retreated. By mid-afternoon, the share was up 2.4% at NIS 0.69, giving a market cap of NIS 21 million.
Procognia already has 14 patents for its technology in the US, Europe, Australia, and Japan.
On the basis of glycoanalysis, Procognia has developed a number of blood tests, which can differentiate between cancer cells and healthy cells on the basis of differences in the sugar molecules' structure. The company says that the new patent expands and deepens the protection of technology.
Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2010
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