Micromedic Technologies Ltd. (TASE:MCTC), the cancer diagnosis technology unit in Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT; Bulletin Board: BLGTY), which owns 31% of Micromedic, has announced that a trial of its product for detecting cervical cancer at the Beijing military hospital showed that the product marks cancer cells, thereby rendering the diagnostic process more effective.
At the same time, Micromedic said that its current distributor in China would be unable to handle the anticipated sales volume. The company is therefore considering other possibilities for distribution in China. China and India are the main markets for Micromedic's test, because it is the only such test already in the commercial stage.
Several months ago, Bio-Light CEO Suzana Nahum-Zilberberg said that the company expected to sell "significant" quantities of its product over the coming year, but this will probably not be through the current distributor.
Bio-Light trades at a NIS 96 million market cap, and Micromedic at a NIS 10.7 million market cap. Bio-Light itself was recently mentioned in a study published by Concorde on the TearLab company, which is developing a product in competition with one of Bio-Light's ophthalmology products for diagnosis of dry eye syndrome. TearLab now trades at a $111.5 million market cap on this basis of this product alone. The analyst following TearLab met with Bio-Light, and wrote, "Bio-Light will be either Tear-Lab's competitor or its next acquisition. We are favorably impressed by Bio-Light."
Published by Globes [online], Israel business news - www.globes-online.com - on October 12, 2014
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