Procognia is pleased to announce the acquisition of unique technology and intellectual property from two entrepreneurs not related to the company or its controlling shareholders ("the entrepreneurs").

The acquired technology enables the identification of cancerous cells on the basis of their glycostructure, as well as transferring a "kill signal" to the cell. Based on this discovery, the entrepreneurs have developed a process that allows for the quick and efficient identification and treatment of ive cancer cells by human antibody molecules, which may lead to the development of drugs and specific diagnostic tools for various types of cancer.

In addition, as part of the acquisition agreement, the entrepreneurs have transferred a licensing and development agreement with the University of Tel Aviv through "Ramot at Tel Aviv University Ltd.", which allows the use of human antibody molecules as part of the development of the acquired technology. For this technology and intellectual property that the company has now acquired, and the future intellectual property with Ramot, the company will pay "Ramot at Tel Aviv University Ltd." and the entrepreneurs future royalties from licensing agreements and/or sales of the acquired technology. However, the company will have exclusive trade rights.

In a feasibility demonstration, the entrepreneurs isolated a number of lung cancer antibodies, which were tested for ive links with the cancerous tissue, and demonstrated their killing ability in the cell culture of human lung cancer cells. These antibodies may be used in early detection through blood tests and biopsies, and as new imaging markers, and will allow monitoring of the patient population deemed fit for treatment.

Procognia has received approval from the Chief Scientist of the Ministry of Industry Trade and Labor for an annual budget for the project to "develop monoclonal antibodies to treat lung cancer" at a cost of approximately 1.5 million NIS, of which the Chief Scientist will finance 50%.

Procognia views this agreement as a significant milestone in its attempts to realize the potential of its unique technology in the field of glycobiology, which will now be aided by this complementary technology.

Information Source:                        Procognia