Mediwatch has announced that PSAwatch continues to make good progress in line with the company strategy.
Since moving to a new manufacturing site and obtaining a stable supply of test strips, Mediwatch has actively promoted PSAwatch in the UK and international markets.
In the UK charitable groups are switching to using PSAwatch as a PSA measuring device in well-man prostate awareness meetings. Mediwatch has been working closely with the Graham Fulford Charitable Trust (GFCT) for a number of years and they have transitioned to using PSAwatch as their standard method of PSA testing.
Over the past few years, the GFCT has raised over £275,000 and conducted over 20,000 free PSA tests across the UK, leading to the early diagnosis of nearly 500 prostate cancers to date.
In France, a clinical study which involved testing over 200 men has been carried out over the course of 2011 comparing PSAwatch to laboratory PSA values. The study, which was led by one of France's leading urologists, has been conducted at six locations across the country and five sites have now completed with the remaining hospital expected to finish patient testing before the end of 2011.
Based on the results from the first five sites, AVF Biomédical, Mediwatch's distributor in France, has launched the PSAwatch system at the Annual French Urology (AFU) congress in Paris which was held between 16th and 19th November and they have already received orders. It is estimated that around 6m PSA tests are conducted in France each year, for assisting both diagnosis and surveillance of prostate disease.
Mediwatch has begun direct marketing of PSAwatch into Europe, Middle East, Asia Pacific and Latin America. A large clinical trial is scheduled to begin at the Royal Hospital in Melbourne in Australia early next year. In addition, Mediwatch are looking into increasing the utility of the reader into other applications.
The company say these are very positive developments for the product line which management expects will see increasing revenues and exposure.
At 11:11am: (LON:MDW) Mediwatch share price was +0.25p at 2.25p
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