Itamar (TASE:ITMR) announced today that it signed an agreement with Roche (SIX:RO, ROG; OTCQX:RHHBY) for use of Itamar’s EndoPAT device in a clinical phase II study for patients with Peripheral Arterial Disease (PAD) at 80 worldwide medical centers. The assessment of endothelial function by EndoPAT will provide one endpoint of the study that will test the effectiveness of a newly developed drug.
“We are very excited to work with Roche in this study that reinforces our strategic direction whereby EndoPAT plays a major role within the pharmaceutical industry of personalized medicine and companion diagnostics”
The agreement is valued at approximately $2.7M to be paid in installments through the study period that is scheduled to last until Dec. 2012.
“We are very excited to work with Roche in this study that reinforces our strategic direction whereby EndoPAT plays a major role within the pharmaceutical industry of personalized medicine and companion diagnostics,” said Dr. Dov Rubin, Itamar-Medical's President and CEO.
“EndoPAT offers the only non-invasive technology that is FDA-indicated for detecting endothelial dysfunction which is easily applied and totally operator independent,” said Dr. Koby Sheffy, Itamar-Medical's CTO and Sr. Vice President. “With more than 80 papers to date in peer-reviewed journals and over 100 abstracts at major scientific meetings, we feel EndoPAT is well positioned as a clinically valid procedure.”
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