The firm owns 20% of Microvascular Eye Technology.
Micromedic Technologies Ltd. (TASE:MCTC) subsidiary Microvascular Eye Technology Ltd. has applied for a provisional patent application with the US Patent Office for the company's SpiderCan device and microneedle and casing for a needle.
The SpiderCan is designed for sclerotherapy cosmetic treatment to remove small blood vessels from the feet and face. Microvascular Eye Technology expects to begin sales during the fourth quarter of 2008, although it is not yet possible to predict if this will occur on schedule.
Micromedic noted that although the patent covers both products, they can be marketed separately. The SpiderCan is classified by the US Food and Drug Administration (FDA) as "class 1, 510-K exempt" because it is a low-risk product.
Microvascular Eye Technology previously developed its MicroCan device to directly deliver therapeutic agents to the retinal blood vessels. This is the most efficient way to treat retinal venous occlusion (RVO) and other ocular diseases and disorders. Micromedic owns 20% of the company.
Published by Globes [online], Israel business news - www.globes-online.com - on April 16, 2008
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