Capsule endoscopy company Given Imaging Ltd. (Nasdaq: GIVN; TASE:GIVN) reported today that it has initiated its first trial of PillCam Colon 2. The capsule will be tested in a large, multi-center pivotal study, ahead of an application to the US Food and Drug Administration (FDA).
800 patients, aged 50-75 years, who are at average risk for colonic polyps and comprise the normal screening population will be recruited by Given Imaging at 17 locations.
Prof. Douglas Rex of Indiana University School of Medicine, and Director of Endoscopy, Indiana University Hospital said, "While colonoscopy remains the most effective test for colorectal cancer screening, not everyone is willing to undergo colonoscopy. Only half of eligible Americans have had a screening test, so we welcome additional tools that can help us increase compliance and lower the incidence of colorectal cancer."
He added, "We recently completed a survey demonstrating that patients who are noncompliant with their physician's recommendation for a colonoscopy for colorectal cancer screening would prefer PillCam COLON capsule endoscopy over other screening modalities. Aspects of PillCam that are attractive include that it's less invasive, detects polyps better than some of the alternative tests and does not require either sedation or a driver to accompany the patient."
Given Image's share was down 1.11% on Nasdaq in afternoon trading today to $21.30, giving a market cap of $639.58 million.
Published by Globes, Israel business news - www.globes-online.com - on June 6, 2011
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