Healthcare start-up BioProtect received European CE Mark approval to market its biodegradable implantable balloon, which is used for prostate cancer patients undergoing radiotherapy.
BioProtect was founded at Xenia Venture Capital Ltd.'s (TASE:XENA) incubator in 2004. It graduated the incubator in 2006, and Xenia currently has a 24.1% stake in the company.
The balloon is implanted though a minimally invasive procedure, and it separates the prostate from healthy tissues and organs surrounding the prostate and thereby minimizes the applied radiation to these organs. The implant is designed to dissolve after 3-6 months, corresponding to the standard duration of radiotherapy procedures for prostate cancer.
According to Xenia, with the CE regulatory approval, BioProtect is gearing up to market its product in Europe.
BioProtect is also developing a solution for slow drug release using its platform.
Shares in Xenia are up 11.1% in late morning trading.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2010
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