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Procognia Ltd. has signed a collaboration agreement with the Dutch biotech company DC4U and European research institutes in the Netherlands and Finland, with the goal of developing a diagnostic product for the early detection and monitoring of prostate cancer. The development of this product will be based upon the above parties' shared knowledge in the field of developing tools based on sugar analysis (glycodiagnostics) in blood samples from patients. Procognia will perform its part of the development using its biochips and its novel bioinformatics tools.

The duration of the project is three years, and it will be funded by EUREKA's EuroStar program. Within the project framework, Procognia is expected to receive a grant of approximately NIS 1.9 million that will be used to cover approximately half of the development costs. The Chief Scientist of the Israeli Ministry of Industry, Trade & Labor's approved a sum of NIS 0.6 million as its contribution towards the funding for the first year of this project.

This project joins another development project conducted by the company, also involving European funding and collaboration (FP6), which similarly focuses on the development of a diagnostic product based on sugar analysis using the biochips developed by Procognia. The FP6 project focuses on the early detection and monitoring of pancreatic and gastric cancer.

Procognia President & CEO, Alon Natanson, stated that this agreement is part of the company's strategy to deepen and strengthen its activities in the area of developing glycodiagnostic tools, especially in the field of cancer. The company will continue to examine opportunities to collaborate with international pharmaceutical, diagnostic and life science companies in order to support its development activities.

Procognia is involved in the research and development, production, marketing, and sales of products and technologies that enable the analysis of glycans attached to various proteins, and also allow for the development of biological drugs.