Diagnostic co Exalenz signs deal with Pfizer

CEO Steven Eitan: Some of the tests that the BreathID system makes possible will replace current invasive tests.

Exalenz Bioscience Ltd. (TASE:EXEN) has signed a cooperation agreement with Pfizer Inc. (NYSE: PFE; LSE: PFZ) to use Exalenz's BreathID diagnostic device in a Phase II clinical trial of an experimental drug for the treatment of hepatitis C.

Exalenz believes that the trial will take nine months. It estimates its revenue from the collaboration at $800,000 during the study period.

The study is scheduled to begin in December at ten medical centers in five Asian countries. Exalenz will provide BreathID devices to each medical center to test liver function of the participants in the trial. The patients will be tested before the start of treatment and throughout the treatment period. Exalenz is leasing the BreathID devices to Pfizer and will supply the disposable kits and provide support services during the trial period.

Exalenz CEO Steven Eitan said, "This is an important vote of confidence and further evidence of the great interest in, and existing need for, the BreathID technology to diagnose and assess treatment of digestive tract and liver by the world's large pharmaceutical companies. Some of the tests that the BreathID system makes possible will replace current invasive tests, and provide a unique response to patients and doctors for routine use."

Exalenz's share price rose 6.7% by midday to NIS 1.01, giving a market cap of NIS 105 million.

Published by Globes [online], Israel business news - www.globes-online.com - on November 17, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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