Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, today announced the Company’s participation in a major collaborative liver cancer project aimed at developing innovative new therapies for this prevalent indication.
“HECAM” (HEpatocellular CArcinoma Multi-technological) is a consortium(*) of industry, academic and clinical leaders working collaboratively to develop innovative multi-faceted technologies for:
(i) the early diagnosis of liver cancer using new biomarkers;
(ii) imaging techniques to assist in therapy decision, planning and follow-up; and
(iii) the treatment of HepatoCellular Carcinoma (“HCC”) using efficient technologies such as HIFU.
Liver cancer is one of the most prevalent cancers in the world and there is an urgent need for cooperative expertise and effort to address it. The HECAM project has identified and assembled a group of the most advanced players in the field to bring viable new solutions to liver cancer patients, and GE Healthcare has been appointed lead coordinator of the consortium.
HECAM is a 5-year, €41.0 million project. €18.2 million of the financing is provided by Bpifrance to companies to facilitate the development of their industrial projects.
EDAP’s focus within the HECAM consortium is on developing a novel HIFU treatment for liver cancer in cooperation with its long-term academic partner INSERM and leading cancer centers. To fund this development program, EDAP will receive €2.4 million in non-dilutive financing from Bpifrance over the 5 year project period.
Emmanuel Blanc, EDAP’s Chief Technical Officer, commented: “EDAP is very proud to be part of the HECAM project and to offer its expertise in HIFU in support of this initiative to develop therapeutic solutions for liver cancer patients. Liver cancer is a major disease with substantial health and economic consequences, and we believe that our wealth of experience in treating tumors using HIFU could lead to improved treatment options and patient survival.”
Marc Oczachowski, EDAP TMS Chief Executive Officer, added: “EDAP’s inclusion in this consortium is an important validation of our fundamental HIFU technology and its potential as a safe, efficacious treatment option for certain types of cancer. We look forward to working with this world-class group of companies, academic researchers and clinicians toward the common goal of finding better treatment and early detection options for liver cancer patients. We enjoy a strong reputation in the industry as the HIFU leader for prostate cancer in Europe, and are excited for the opportunity to extend this leadership into the area of liver cancer.” (Original Source)
Shares of EDAP closed today at $3.56, down $0.04 or 1.11%. EDAP has a 1-year high of $6.05 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.62 and it’s 200-day moving average is $2.38.
EDAP TMS SA develops, produces and markets minimally invasive medical devices, mainly for urological diseases. Its activity is organized in two divisions: HIFU and UDS.