Roche Products will pay $2.7 million for use of EndoPAT, a device from Israel’s Itamar Medical, in a clinical drug trial. The device monitors the function of the interior layer of blood vessels.

Itamar Medical’s EndoPAT device will be used by Swiss pharmaceutical company Roche Products in a Phase II clinical trial of a drug for the treatment of peripheral arterial disease.

According to studies by Itamar, the data collected by the EndoPAT device makes it possible to assess damage in arterial walls. Roche’s use of the device in its own clinical trials essentially certifies Itamar’s own studies.

On March 16, Globes, Israel’s leading financial daily, reported that Itamar Medical president and CEO Dr. Dov Rubin said, “This collaboration strengthens our strategy of using the EndoPAT in a key role in the customized pharmaceutical and diagnostic industry.”

Itamar Medical has also developed a device that can measure the health of your heart from a fingertip test that has received a seal of approval from the Mayo Clinic, as well as a “miniature sleep lab” worn on the wrist and one finger that can diagnose and identify the source of sleep problems. The Cleveland Clinic has named it one of the 10 best medical innovations for 2010.