Itamar Medical and Roche meet first development goal

The companies are developing a version of Itamar's EndoPAT diagnostic monitor for use on animals during preclinical trials.

Itamar Medical Ltd. (TASE:ITMR) reports progress in the joint development with F. Hoffman La Roche AG (SWX: ROG) of a version of Itamar's EndoPAT diagnostic monitor for use on animals during preclinical trials.

The EndoPAT, which is used by people, monitors the endothelial layer (the inner lining of blood vessels) to test for dysfunction, which is an early indicator of cardiovascular disease. Adapting the device to animals will make it possible, during preclinical trials, to test the effect of various drugs on the endothelial layer, enabling a decision whether to pursue further development before the heavy expense of human clinical trials.

Itamar Medical and Roche signed their three-year cooperation agreement a year ago. Yesterday, they announced that development of the measuring tools was completed, and they are now commencing a trial to confirm the EndoPAT's capabilities. Itamar hopes that it will be possible to begin use of the device on animals in a year.

The budget for the three-year program is €1.6 million, of which Roche is financing €1.35 million. Roche has transferred €350,000 to Itamar to date, and is due to shortly transfer an additional €250,000 to finance the device's development during the first half of 2012.

Itamar Medical's share price was unchanged in morning trading today at NIS 2.23, giving a market cap of NIS 300 million, after rising 0.6% yesterday.

Published by Globes [online], Israel business news - www.globes-online.com - on December 26, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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