The discovery and experimental validation of a new medicine specifically designed for the treatment of a dangerous cancer type has been announced by Compugen Ltd. With the announcement, the firm's shares rose by a whopping 41% in pre-market trading.

The CGEN-671 compound has been developed for the treatment of multiple epithelial tumors, and is known to be a membrane splice variant of CD55, a popular medicine for gastric cancer, for which monoclonal antibody therapeutics are currently being clinically developed by other drug manufacturers. The details have all been confirmed by the Israeli based biotech company.

More commonly known as carcinomas, epithelial tumors account for nearly 85% of all the cancers which occur. Epithelial cells provide the cover and lining of every surface or cavity of the human body, and also the body's organs. These can develop into many different types of epithelial cancers.

The company has now filed patent applications to cover the splice variant, CGEN-671, and its many therapeutic and diagnostic uses.

Shares of Compugen surged by $1.67 to $5.75. On Thursday, these had closed at $4.08 on NASDAQ.