ITGI obtains CE Mark for cranial stents

ITGI CEO Israel Schreiber said that the new stent can be a good alternative for treating aneurysms. The company's share price soared 66% on the news.

ITGI Medical Ltd. (TASE:ITGI) has obtained EU CE Mark for its latest version of its pericardium covered stent - the AneuGraftNx. ITGI's share price rose 66% on the announcement to NIS 0.118, giving a market cap of NIS 13 million.

The AneuGraftNx stent is designed for specific neurological indications, including endovascular treatment of intracranial aneurysms, carotid cavernous fistuals, and intracranial dissections. ITGI will continue to collate clinical data on the new stents, which have been found to be safe and effective in previous trials, ahead of the commercial launch in a few months.

The new stent is partially covered by living tissue, which enables precise treatment of the damaged artery, greatly reducing the risk of blockages.

ITGI CEO Israel Schreiber said that the new stent can be a good alternative for treating aneurysms, because it can fully and immediately isolate the area of the aneurysm, in contrast to current treatments, which require 6-12 months to do so, and only with a 70-80% chance of success. He added that the new stents could open new joint ventures for the company in neurology.

Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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