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4/27/2010 1:34:19 PM
Ramat Gan, Israel, and Nantong, China, April 26th 2010 – Bio-Light announces the signing of a collaboration agreement between its subsidiary, Zetiq Technologies, and the Chinese company, Biomics Biotechnologies, whose expertise lies in the development and sales of medical and diagnostic products. This follows a memorandum of understanding signed between the two companies on 1st December 2009.
Collaboration between the two parties will take place in two stages: During the first stage Biomics Biotechnologies will be responsible for preparing for clinical trials and for the registration and regulatory approval process with the SFDA, the medical regulatory authority in China.
According to the agreement, Zetiq will supply Biomics with an exclusive knowledge and patent license of the product in China, so as to enable Biomics to hold clinical trials and obtain registration and regulatory approval.
Upon successful completion of the regulatory approval, the second stage will ensue, whereby Biomics will be granted exclusive rights to market and distribute the product in China.
The two sides have applied for funding of the collaboration by the Israel China Bi-national fund and received initial approval.
Biomics Biotechnologies (Nantong) Co., Ltd. (Biomics) is a leading RNAi therapeutical technology, developing and selling medical and diagnostic products. The company has a combined platform of drug targets screening and identification, siRNA structure modification and drug delivery systems. The company is managed by a professional team who retained their training in the USA and is funded by American investors.
According to Dr. Adi Elkeles, CEO of Zetiq Technologies, "This collaboration agreement further demonstrates Zetiq's ability to commercialize its CellDetect technology."
The agreement was signed this week in China, in the presence of dignitaries from the Chinese Ministry of Science and Technology, among them Mr. Kow Sumin and Jacky Eldan, the Israeli Consul General in China.
About Zetiq Technologies Ltd.
Zetiq is a subsidiary of Bio-Light Life Science Investments, a management and holding company specializing in biomedical technologies. Bio-Light is traded on the Tel Aviv Stock Exchange under the symbol TASE:BOLT.
Zetiq Technologies Ltd. has developed unique technology for differential staining and morphological visualization to differentiate between non cancer cells and a wide variety of cancer. The company's products alleviate the process of locating and identifying suspected cancer cells, reduce error, simplify the process and have a potential to be fully automated. The technology is significantly more accurate and precise than any other existing examination.
The first product produced by the company was a kit for early detection of cervical cancer that was proven, in the clinical trials, to be much more effective and precise than any known tests thus far.
Zetiq recently announced that its second line of products, for early detection of bladder cancer, also proved to be specific and efficient in detecting cancerous cells. During its next stage, the company intends to examine early detection of bladder cancer via urine samples, in place of complex, invasive and painful examinations, that take place today.
Zetiq's technology uses dual analysis of both color discrimination and morphological analysis to differentiate between neoplastic and non neoplastic cells and therefore is adaptable in constructing protocols for several kinds of cancer.