Sialo applies for FDA approval for dental endoscope

Indicators point to strong investor confidence in Israel

The dental endoscope developer said that it was building a distribution and marketing network, and seeking a sub-distributor in the US.

Sialo Technology Israel Ltd. (TASE: SALO) has applied to the US Food and Drug Administration (FDA) for marketing approval of the company's endoscope for the treatment of salivary gland stones and root canal procedures.

Sialo CEO Itsik Hening said, "The application will enable the company to begin marketing efforts in the US." He predicts that approval will come within three months.

Sialo said that it was building a distribution and marketing network, and seeking a sub-distributor in the US.

FDA approval should improve Sialo's financial standing, since it has not been able to achieve significant sales of its products to date. Sales totaled just NIS 600,000 in January-September 2009.

Sialo's share rose 3.2% today to NIS 2.39, giving a market cap of NIS 37.4 million.

Published by Globes [online], Israel business news - www.globes-online.com - on December 8, 2009