Glycominds Ltd. (TASE: GLCM) has obtained an Israeli patent for its early-stage multiple sclerosis diagnostic and disease management kits gMS blood test. With receipt of the patent, the company began marketing the diagnostic kits in Israel on November 1.
The gMS Dx blood test is an early stage multiple sclerosis diagnostic test, and the gMS Pro EDSS is a test for the progression of the disease.
Glycominds added that the Israeli patent strengthened the company's intellectual property, and that it now has patents in more than 100 countries.
Glycominds' blood test kits will not be included in the basket of healthcare services, and the company plans to seek their inclusion. The company mainly markets the kits in the US, after launching sales there a year ago. Blood tests conducted in Israel will be sent to a California laboratory for processing.
Glycominds' blood tests shorten the diagnostic time for multiple sclerosis tests. The company's products have no competitors, and it estimates the market potential at $1 billion.
Glycominds' share price rose 9.8% by midday to NIS 0.59, giving a market cap of NIS 21 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011