BioBalance Corp., a wholly owned subsidiary of New York Health Care, has received approval from the FDA to begin U.S. trials of its proprietary biotherapeutic agent, Probactrix, a prescription drug for pouchitis. Pouchitis is a debilitating complication that can develop following corrective surgical treatment of ulcerative colitis, in which a pouch is constructed to enable normal bowel movements after removal of the diseased colon. This pouch can become inflamed, leading to debilitating gastroin...