Glycoanalysis developer ProCognia (Israel) Ltd. (TASE:PRCG) has verified the findings from September 2009 on its innovative glycoanalysis method of using blood sugars to diagnose various cancers.
The replicated results are based on hundreds of samples. They show clear and significant differences between the serum (blood tests) of patients with stomach cancer and healthy patients. The latest results provide grounds for applying ProCognia's proprietary technology for cancer diagnosis. The company intends to expand the development of its diagnostic platform to other forms of cancer.
In the coming weeks, ProCognia plans to begin a trial of its diagnostic test on colon cancer in collaboration with Sheba Tel Hashomer Medical Center, which has already collected the serum samples for this purpose. The company added that it is considering collaborating with a multinational diagnostic company in this trial.
In the light of the positive results, ProCognia is examining collaboration with international companies. President and CEO Alon Natanson said, "This is significant progress for us. It will enable us to expedite and deepen further development of our unique technology for diagnosing cancers. In the light of the results, we are looking at scientific collaboration with an international diagnostics company."
Natanson added that the company's field of glycomics was "one of the most rapidly developing fields in biomed and holds out very great scientific and economic potential."
ProCognia's share price rose 1.8% in morning trading to NIS 0.39, giving a market cap of NIS 13 million. The company raised NIS 3.1 million in an offering in Tel Aviv this week.
Published by Globes [online], Israel business news - www.globes-online.com - on August 25, 2010
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