However, the trial will last longer than planned.
MCS Medical Compression Systems (DBN) Ltd. (TASE:MDCL) has released positive interim results for the comparative trials of its ActiveCare DVT anti-blood clotting device which is designed as an alternative to the anti-thrombotic agent Lovenox, currently available on the market. The trial, which included almost 200 patients, indicated that the device could replace the drug.
MCS added that it expects to complete the trial in March 2008. This is later than the September 2007 date that the company stated in its prospectus in May 2006. As a result of the delay, the company’s bondholders are entitled to demand early redemption of up to 70% of their bonds on October 31.
MCS’s share rose 20% today, after rising 12.4% yesterday.
Lovenox is made by Sanofi-Aventis SA (NYSE:SNY; Euronext:SAN).
Published by Globes [online], Israel business news - www.globes.co.il - on October 2, 2007
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