Check-Cap and GE Healthcare have received a $1 million grant from the Israel-US Bi-national Industrial Research and Development Foundation (BIRD) to develop high-volume manufacturing process for the C-Scan system’s X-ray source and capsule assembly. The award of the grant is conditioned on submission of an application for CE Marking of the C-Scan system. Bill Densel, CEO of Check-Cap, said the grant aim is to develop a high volume manufacturing and distribution process of C-Scan to the US market. “We are on track to submit C-Scan for CE Marking this summer.”
Check-Cap is a clinical-stage medical diagnostics company developing the first capsule-based system for preparation-free colorectal cancer screening. Utilizing innovative ultra-low dose X-ray and wireless communication technologies, the capsule generates information on the contours of the inside of the colon as it passes naturally. This information is used to create a 3D map of the colon, which allows physicians to look for polyps and other abnormalities.
Patients Avoid Standard Screening
Colorectal cancer is the second leading cause of cancer death in the US. According to the American Cancer Society, it caused approximately 50,000 deaths in 2017. Despite compelling evidence that screening can detect colorectal cancer and precancerous polyps, nearly one-third of the recommended adult population has never been screened. The C-Scan system is designed to eliminate many unattractive requirements, such as bowel preparation, fasting, and sedation, and thus to improve the patient experience with screening.
Check-cap is currently traded at NASDAQ for market cap of 28$ million. During the first Six Months of 2017 the company spent $3.9 million in research and development. The move to production comes following a technical milestone: Check-Cap and GE Healthcare have successfully achieved last May: The X-ray source was produced at GE Healthcare using a customized manufacturing method and passed all tests required to ensure compliance with C-Scan system specifications.