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Glycominds Ltd. Joins Biomolecular Photonic Consortium to Develop New Molecular Imaging Technique


9/26/2007 9:21:49 AM

LOD, Israel, Sept. 25 /PRNewswire/ -- Glycominds Ltd., a biodiagnostics company specializing in glycan biomarkers for diagnosis and disease management of autoimmune diseases and cancer, announced today that has entered the Biomolecular Photonic (BMP) Consortium. BMP is a new consortium funded by the Government of Israel to improve in-vivo imaging diagnostics for Crohn's disease (CD) and colorectal cancer. The BMP consortium was approved for three years and was granted $4 million for its first year.

"We are very pleased to join the BMP consortium," stated Dr. Nir Dotan, Glycominds' co-founder, CTO and VP, R&D. "Combining biomarker experience with our glycan technology will promote the in-vivo imaging technology developed in Israel. Our collaboration with companies such as Given Imaging will accelerate the new concept of combining in vitro-in vivo assays towards sensitive biomolecular imaging techniques to enable a more rapid, accurate and earlier diagnosis of Crohn's disease and colorectal cancer."

"Glycominds' glycan biomarker technology stands out as innovative and unique, providing the consortium with proven biomarkers for Crohn's disease and a great opportunity for diagnosing colorectal cancer," stated Dr. Elisha Rabinovitz, the head of the Israeli consortium and Given Imaging CSO. "I believe that glycan technology has the potential to enhance CD diagnosis and early detection of cancers. Glycominds is clearly pioneering the implementation of glycan biomarkers."

About Glycominds Ltd.

Glycominds Ltd. is a biodiagnostics company specialized in developing and commercializing glycan biomarkers, a new class of early diagnostic and prognostic tests based on complex sugar molecules for the detection and management of autoimmune diseases and cancer. The company's goal is to provide physicians with tools that improve treatment selection in autoimmune diseases and early detection of cancers.

Glycominds lead product, IBDX(R), a blood test for early diagnosis of Inflammatory Bowel Disease (IBD) and the prognosis of Crohn's disease severity is commercialized in Israel and Europe, with a U.S. launch planned in early 2008. The Company's gMS(TM) Dx, a blood test for early diagnosis of Multiple Sclerosis (MS), and gMS(TM) PRO, a prognostic test for MS activity, are also expected to enter the market in 2008. Other pipeline products of Glycominds' include blood tests for the prediction of recurrent pregnancy losscaused by antiphoshpholipids syndrome (APS), and first-in-class screening tests for breast and colorectal cancers.

For more information, please contact: Glycominds, Ltd. Dr. Avinoam Dukler Chief Executive Officer dukler@glycominds.com The Ruth Group Sara Ephraim (investors) Phone: 646-536-7002 sephraim@theruthgroup.com Janine McCargo (media) Phone: 646-536-7033 jmccargo@theruthgroup.com

Glycominds Ltd.

CONTACT: Dr. Avinoam Dukler, Chief Executive Officer, Glycominds, Ltd.,dukler@glycominds.com; or Sara Ephraim, investors, +1-646-536-7002,sephraim@theruthgroup.com, or Janine McCargo, media, +1-646-536-7033,jmccargo@theruthgroup.com, both of The Ruth Group, for Glycominds Ltd.


Read at BioSpace.com


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