Procognia wins Health Canada deal

Health Canada will use the company's glycosylation analysis products and services for research on biotherapeutic products.

Glycoanalysis company ProCognia (Israel) Ltd. (TASE:PRCG) is providing glycosylation analysis products and services to the Biologics and Genetic Therapies Directorate of Health Canada, for research on biotherapeutic products. Procognia's share price rose 7.8% by midday to NIS 0.538, giving a market cap of NIS 13 million.

Procognia CEO Dr. Ruth Ben-Yakar said, “We are very proud of Health Canada’s choice to use our glycosylation analysis products and services for research of various biotherapeutic products. We regard it as a vote of confidence in the capabilities of our technologies and of our services”.

Carbohydrates are known to affect the activity, stability and safety of biological products, including therapeutic proteins, vaccines, and stem cells, making it highly important to characterize them in biopharmaceutical products in general and biosimilars in particular. “Our products and technologies enable analysis of carbohydrates throughput the process of development and manufacturing of biological products, hence enabling our customers in making informed decisions regarding their products for directing manufacturing conditions towards the desired glycosylation profiles” added Dr. Ben-Yakar.

Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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