The company expects to begin marketing its products by the end of the year.
Healthcare holdings company D Medical Industries Ltd. (TASE:DMDC) announced today that its subsidiary NiliMedix Ltd. has received US Food and Drug Administration (FDA) approval to begin marketing its insulin pump in the US. The company has already received CE Mark certification for its product in Europe and expects to begin marketing it there by the end of the year.
D Medical added that NiliMedix has a distribution agreement in Israel and that it hopes to have distribution agreements for Europe in place by the second half of 2009.
NiliMedix is using the technology behind its current product as a platform for the development of a small, single use pump in the form of a patch, using advanced micro electro-mechanical technology. NiliMedix has also incorporated a technology developed by another D Medical subsidiary, G-Sense Ltd. as part of the development of a sensor for the continuous measurement of glucose.
D-Medical's share soared 14.6% in morning trading on the Tel Aviv Stock Exchange (TASE).
Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2008
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