The grant is for further development of the company's BreathID diagnostic device.
Exalenz Bioscience Ltd. (TASE:EXEN) has obtained a NIS 1.25 million grant from the Office of the Chief Scientist to further develop its non-invasive BreathID diagnostic device for gastrointestinal disorders. The grant covers 30% of the cost to develop the device for this indication.
The BreathID has already been installed at 50 hospitals for breath test to detect Helicobacter pylori (H. pylori) bacterium, a cause of peptic ulcers. The company recently reported good results in initial trials of the device on pancreas function and gastric emptying.
Exalenz's share price fell 0.6% today to NIS 0.71, giving a market cap of NIS 95 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2011
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