Glycominds Ltd. (TASE: GLCM) today reported "significant clinical results toward personalized therapeutic treatment for progressive multiple sclerosis patients". The company's share price rose 25.3% by midday on the TASE on the news to NIS 0.52, giving a market cap of NIS 23 million.
Glycominds, which develops glucose diagnostic kits, presented the results at the 64 annual meeting of the American Academy of Neurology in New Orleans.
The trial found statistically significant diagnosis of progressive multiple sclerosis. Patients tested positive for multiple sclerosis showed more rapid deterioration to level 3 disability on the EPSS scale, but patients who tested negative did not reach this level of disability. A disability above 3.5-4 on the EPSS scale marks the change from intermittent attacks of multiple sclerosis to the onset of progressive multiple sclerosis.
The trial, jointly conducted with the Boston-based NPO Accelerated Cure Project, included 120 patients at leading multiple sclerosis research centers in the US. The study was funded by the US government and multiple sclerosis associations.
Published by Globes [online], Israel business news - www.globes-online.com - on April 29, 2012
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