July 29, 2009 (FinancialWire) — - (NASDAQ: ELRN) (Current Market Cap: $137.28 Mil.) said that Medingo Ltd., a group company held 92% by Elron and its RDC - Rafael Development Corp. Ltd. subsidiary, has received formal clearance from the Food and Drug Administration to market its Solo MicroPump insulin delivery system in the United States.

Medingo plans to introduce the system at the American Association of Diabetes Educators Meeting, which will take place in August 2009 in Atlanta, Georgia.

According to Arie Mientkavich, chairman of Medingo and Elron, the clearance marks “a major milestone for Medingo, which will enable it to progress to the next phase in its development.” He added that Medingo is currently considering alternatives for its go-to-market strategy and the timing of the product launch.

Israel Elron Electronic Industries is a technology holding company whose group companies operate primarily in the fields of medical devices, information and communications technology, clean technology and semiconductors.

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