The share price of Israeli clinical stage medical diagnostics company Check-Cap Ltd. (NASDAQ: CHEK) was up 8.5% in premarket trading on Nasdaq after signing a major deal with GE Healthcare. Check Cap is developing an ingestible capsule for preparation-free, colorectal cancer screening.
The agreement with GE Healthcare is to develop and validate high-volume manufacturing for X-ray source production and assembly into Check-Cap's capsule. On successful completion, the parties may discuss collaboration on implementing a high-volume manufacturing facility and distribution of the Check-Cap system.
Check-Cap CEO Bill Densel said, "GE Healthcare is a global leader in the development, manufacturing, and distribution of diagnostic imaging agents and radio-pharmaceutical drugs and devices. We believe that leveraging their experience and expertise provides us with a significant opportunity to meet our goal of increasing the time and cost efficiencies of production of our capsule for use in future clinical trials and commercialization."
Check-Cap's system is designed to improve the patient experience by eliminating the features of existing screening methods, such as bowel preparation, invasive procedure, and stool handling, that pose a barrier to test completion. Check-Cap is currently conducting a multi-center clinical feasibility study and expects to file a CE Mark submission for the Check-Cap system in the first half of 2017.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2016
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