Roche Products will pay $2.7 million for use of the device, which monitors the function of the interior layer of blood vessels.
Itamar Medical Ltd. (TASE:ITMR) will include its EndoPAT device with Swiss pharmaceutical company Roche Products Ltd. in a Phase II clinical trial of a drug for the treatment of peripheral arterial disease. Roche will pay $2.7 million for use of the device, which monitors the function of the interior layer of blood vessels.
According to studies by Itamar, the data collected by the EndoPAT device makes it possible to assess damage in arterial walls. Roche's use of the device in its own clinical trials essentially certifies Itamar's own studies.
Itamar Medical president and CEO Dr. Dov Rubin said, "This collaboration strengthens our strategy of using the EndoPAT in a key role in the customized pharmaceutical and diagnostic industry."
Itamar Medical's share price rose 3.2% today to NIS 2.21, giving a market cap of NIS 280 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 16, 2010
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