Once the development completes, the companies plan to collaborate to operate high-volume manufacturing facility and distribute Check-Cap system.

Check-Cap is engaged in the development of ingestible capsule system for preparation-free and less-invasive colorectal cancer screening.

The capsule uses novel ultra-low dose X-ray and wireless communication technologies to scan the inside of the colon.

Once it passes, the system generates a 3D map of the inner surface of the colon, which helps to detect polyps and cancer.

The Check-Cap system has been designed to enhance the patient experience by eliminating the features of existing screening methods such as bowel preparation, invasive procedure, and stool handling, which are the barriers for test completion.

Currently, Check-Cap is carrying out a multi-center clinical feasibility study with plans of CE mark submission in the first half of 2017.

Check-Cap CEO Bill Densel said: "We are very excited to commence this strategic relationship with GE Healthcare as we continue our efforts to optimize the supply chain for the Check-Cap system.

"GE Healthcare is a global leader in the development, manufacturing, and distribution of diagnostic imaging agents and radio-pharmaceutical drugs and devices.”

With an estimated 134,000 diagnoses and 49,000 deaths in this year, the colorectal cancer is claimed to be the second leading cause of cancer death in the US.