July 6, 2012 — Lantheus Medical Imaging Inc. announced the company has been selected to receive a $300,000 Massachusetts-Israel Innovation Partnership (MIIP) grant. MIIP is a formal collaboration between the state of Israel and commonwealth of Massachusetts, focused on encouraging and supporting innovation and entrepreneurship between Massachusetts’ and Israel’s life sciences, clean energy and technology sectors. The grant is made possible by Mass. Gov. Deval Patrick, Israel’s chief scientist Avi Hasson, the U.S.-Israel Science and Technology Foundation (USISTF) and the Massachusetts Technology Collaborative.
Lantheus will receive the grant upon signing a collaboration agreement with Check-Cap LTD, a medical device company, to develop and manufacture a novel, noninvasive 3-D imaging capsule to screen for polyps and lesions associated with colorectal cancer. Check-Cap LTD, which is based in Mount Carmel, Israel, is being awarded a grant from the Office of the Chief Scientist in Israel. Colorectal cancer is the second leading cause of cancer death in the United States and accounts for eight percent of cancer deaths worldwide. Early detection of polyps dramatically increases the chance for survival; however it is estimated that only half of people over the age of 50, for whom screening is recommended, currently undergo routine colonoscopies.
“We are pleased to have been selected to receive this important new grant that enables us to collaborate with Check-Cap on an innovative imaging product that can potentially change the way colon cancer is detected,” said Don Kiepert, president and CEO, Lantheus Medical Imaging. “As a global leader in diagnostic imaging, Lantheus is dedicated to providing physicians with breakthrough tools to enhance patient care. Teaming up with Check-Cap to develop and manufacture a cutting-edge imaging capsule further advances this ongoing commitment.”
“With their rich heritage in pioneering innovative imaging solutions to improve the detection of human disease, Lantheus is an ideal partner for this exciting initiative,” said Guy Neev, CEO, Check-Cap. “Despite being 90 percent curable with early detection, colon cancer remains the second-most deadly cancer in the Western world. Our unique imaging capsule may increase colorectal screening compliance without compromising screening accuracy, and has the potential to reduce the high patient mortality associated with this disease.”
For more information: www.lantheus.com