KarmelSonix Ltd. (ASX: KSX) has signed its several distribution agreements for the company's PulmoTrack asthma diagnostic device and “wheeze rate paradigm”. One agreement is with Accuramed covering the Benelux countries and a second agreement is with the Progressive Group Inc. covering China and Taiwan. Both distributors will purchase the product for resale to end users.
KarmelSonix will also work with a national Australian pharmacy chain to promote PulmoTrack and train selected pharmacies to use the company's new acoustic diagnostic devices now under development, in particular the Personal Wheezeometer, due for release in 2009.
KarmelSonix and Denver-based Sandhill Scientific Inc. of Denver have obtained funding from the Israel-United States Binational Industrial Research and Development Foundation (BIRD-F) for their joint venture to develop and market WIM-GER, a device that combines the proprietary wheeze and cough detection technologies of KarmelSonix and the acid and non-acid monitoring technologies of Sandhill Scientific into a product.
KarmelSonix is a joint Israeli-Australian medical device company that has developed an acoustic diagnostic device for asthma and other pulmonary diseases. The US Food and Drug Administration (FDA) approved the PulmoTrack several months ago. The company has a market cap of $20 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2008
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