Insuline Medical Ltd. (TASE: INSL), developer of a medical device that improves the rate of insulin absorption for diabetics, has finalized a deal with J&J (NYSE:JNJ) unit, LifeScan, Inc. Under the terms of the agreement, LifeScan will market Insuline’s product in Germany.
Following the announcement, the company’s share price rose 6.7%, with a trading volume of NIS 10 million, triple the average amount over the past month. Insuline has a market cap of NIS 314 million.
Insuline has developed a medical device that warms the injection site, and increases the rate at which the insulin is absorbed. The faster the insulin is absorbed, the more effective it is. Currently, there are chemically-enhanced, rapid-acting insulin products on the market, but Insuline’s product improves the absorption rates of both rapid-acting insulin, and regular insulin.
The company chose to launch its product first in Germany, where it will serve as a pilot, and a future basis for all European markets.
Published by Globes [online], Israel business news - www.globes-online.com - on October 17, 2013
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