Elron (ELRN) Receives FDA Clearance to Market Insulin Micropump in US
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Elron Electronic Industries Ltd. (NASDAQ: ELRN) announced today, that further to it previous announcement on July 28, 2009, Medingo Ltd., a group company held 92% by Elron and its subsidiary, RDC - Rafael Development Corporation Ltd., has received formal clearance from the FDA, to market its Solo(TM) MicroPump Insulin Delivery System in the United States.
Medingo intends to introduce the Solo(TM) MicroPump at the American Association of Diabetes Educators Meeting which will take place in August 2009 in Atlanta, U.S.A.
"We are very excited to have received FDA clearance for Medingo's innovative, miniature, tube-free, insulin delivery system," commented Arie Mientkavich, Chairman of Medingo and Elron. "This is a major milestone for Medingo, which will enable it to progress to the next phase in its development. Medingo is currently considering alternatives for its go-to-market strategy and the timing of the product launch."
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