BioView files for rights offering

BioView Ltd. (TASE:BIOV) has filed a prospectus for a rights issue to raise up to NIS 4.2 million. The company is traded at a market cap of NIS 13.2 million.

BioView was founded in 1998 and went public in 2007. The company develops automated laboratory test kits in a number of fields, including early detection of breast, bladder, and blood cancers. The company's BV-Sperm-a-Fish probe automatically analyzes sperm cells. It is also developing a product line of kits based on newly discovered markers.

BioView's prospectus states that proceeds from the rights issue will be used to develop kits for the early diagnosis of lung cancer and obtain regulatory approval for them in target markets.

BioView has a cooperation agreement with University of Texas MD Anderson Cancer Center in Houston to develop the lung cancer diagnostic kit

Published by Globes [online], Israel business news - www.globes-online.com - on May 27, 2008

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