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Neoprobe arranges Israeli agent plant
Neoprobe is establishingan Israeli subsidiary to run a radiolabeling facility for monoclonalantibody agents used in its nuclear probe technology (see above).The U.S. firm signed a memorandum of understanding with the Israelifirm Rotem Industries in
Neoprobe is establishingan Israeli subsidiary to run a radiolabeling facility for monoclonalantibody agents used in its nuclear probe technology (see above).The U.S. firm signed a memorandum of understanding with the Israelifirm Rotem Industries in January. Neoprobe will own 95% of Neoprobe-Israeland Rotem the rest.
Located near Temed, Neoprobe-Israel will produce radiolabeledantibodies for use with its RIGS technology in Europe and Israel.The company will also serve as a secondary source of supply forRIGS agents, in addition to Nordion of Canada. Neoprobe has signeda long-term supply agreement with Nordion.
The move is a logical follow-up to its acquisition of MonoCarbAB of Sweden last December, said Neoprobe president David Bupp.
"Neoprobe now has complete control of all aspects of manufacturingand distributing RIGS surgical system targeting agents,"he said.
The agreement with Rotem is contingent on the government ofIsrael providing $3 million in guarantees to help fund the facilityand clinical testing of agents developed there.
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