Exsulin will test the combination of its drug with Insuline's delivery technology.
InsuLine Medical Ltd. (TASE: INSL) has risen strongly on the Tel Aviv Stock Exchange after announcing that it has signed a binding memorandum of agreement with Exsulin Corp. of the US for testing the efficacy of the use of the ISTS (Injection Site Treatment and Stabilization) technology it is developing combined with Exsulin's drug, also named Exsulin, which is in Phase II trials. Exsulin is designed to treat Type 1 and Type 2 diabetes by inducing regeneration of pancreatic insulin-producing islet cells. Exsulin will finance the testing of the combination of its drug with Insuline's ISTS technology, with the aim of improving the absorption of the drug in the blood and the speed of its action.
Last year, Insuline lost 91% of its value, after the body responsible for insurance cover of medical devices in Germany, the first market in which the company planned to operate, refused to reimburse patients using the company's product, on the grounds that it did not meet the definition of a medical device. In the past month, Insuline's share price has risen 60% and the company now has a market cap of NIS 9.1 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2016
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drug development