Micromedic signs term sheet with BioRap to develop and market new devices for the early detection of diabetes
Micromedic Technologies Ltd., an Israeli holding company worth approximately 55 million shekels which specializes in the development of biological markers announced recently the signing of a Term Sheet Agreement with BioRap to form a company for the purpose of developing and marketing a kit for the early detection of LADA diabetes. (Latent Autoimmune Diabetes in Adults). LADA is a form of type 1 diabetes which is diagnosed in indivuals who are older than the usual age of onset of type 1 diabetes. This kit, based on the invention of Professor Nathan Karin of the Rappaport Institute and Prof. Naim Shehadeh, Head of Pediatrics A and the Type 1 Diabetes Center at Rambam Medical Center will revolutionize the way LADA and Type 1 diabetes are diagnosed.
An article in the April 24, 2007 issue of Globes, reported on the formation of the partnership. At the present time the diagnosis of LADA is very difficult to make and usually takes years to diagnose. A new autoantibody marker, identified by Professors Karin and Shehadeh makes possible the early diagnosis of LADA which will also hopefully lead to a much improved quality of life for these patients.
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