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FDA Approves Israeli Cancer-Freezing Technology

IceCure’s cancer-freezing technology relies on an innovative process referred to as cryoablation therapy.

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Israeli healthtech companies and researchers have developed many life-saving technologies, some of which are now used in hospitals around the world. One highly promising medical technology has just been approved by the United States Food and Drug Administration (FDA) after demonstrating its ability to eliminate tumors using new cancer-freezing technology.

The groundbreaking technology comes from a healthtech company called IceCure. The company was founded in 2006, and it’s currently headquartered in the coastal city of Caesarea, Israel.

IceCure’s cancer-freezing technology relies on an innovative process referred to as cryoablation therapy. The goal of cryoablation is to insert a hollow needle into the breast until the tumor is reached. Liquid nitrogen is then precisely applied directly into a tumor to kill the abnormal tissue by freezing it at a very low temperature of -170°C (-274 F).

“We are basically covering the tissue with an ice ball. No tissue can survive such a low temperature,” explained Tlalit Bussi Tel-Tzure, vice president of business development and global marketing at IceCure. “Once the tissue is dead, it will dissolve in the body in a natural process and be absorbed in the body in a couple of weeks.”

The technology has already proved to be extremely successful when it comes to destroying kidney tumors, demonstrating perfect efficiency. Its main advantage is the fact that it can be carried out either at a doctor’s office or an outpatient facility thanks to its minimally invasive nature. The entire procedure can take less than one hour from start to finish, and it doesn’t leave any lasting physical mark on the body.

Also Read: Israelis Have Successfully Grown Mouse Embryos In Artificial Wombs

“Our main vision is to become the gold standard in breast cancer treatment,” said Eyal Shamir, CEO of IceCure Medical. “Most of the cases where you have good early detection are small tumors, considered early stage, and the only treatment available today is surgery.”

IceCure isn’t the only company exploring the application of cryoablation for treating breast cancer. There’s also California-based Sanarus Technologies, which has recently completed a clinical trial in the United States.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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