Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based and other molecular diagnostics, today announces that the Company has entered into a services agreement with an unnamed global pharmaceutical company to provide Fluorescence in Situ Hybridization (FISH) testing services for a clinical study the pharmaceutical company is conducting in prostate cancer.
The study will use FISH to determine the phosphatase and tensin homolog (PTEN) gene status of a number of prostate adenocarcinoma cases. The concordance of the FISH results will be assessed for cases where PTEN status was previously established by immunohistochemistry (IHC). The primary goal of the study is to determine if PTEN by FISH detects cancers that IHC did not.
“We are very pleased to have our FISH testing selected by this global pharmaceutical for their clinical testing study. The quality, reliability and turn-around time of our best-in-class FISH testing enabled us to win this important business. It has also allowed us to gain business from a number of sizeable customers who were not happy with the quality and reliability of FISH test offerings of certain larger competitors. For example, we won the business of one large statewide health care provider after we succeeded in providing correct diagnoses on a number of samples that a large competitor was unable to achieve. In addition, we also took a large state university hospital’s HEME FISH business from another competitor based on our FISH tests’ high quality, reliability and timeliness,” stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
The FISH service offered by RosettaGX is best-in-class, with a highly competitive success rate in obtaining informative results in 98% of cases, and a turnaround time of 3 to 4 days. Rosetta’s FISH technology is used for the early detection of genomic changes, which may detect cancer, measure the potential aggressiveness of the disease, and identify if patients are likely to respond to specific targeted therapies
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based and other molecular diagnostics. Rosetta’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Through the acquisition of PersonalizeDx, the Company now offers core FISH, IHC and PCR-based testing capabilities and partnerships in Pathology, Oncology and Urology that provide additional content and platforms that complement Rosetta’s microRNA and Next-Gen Sequencing offerings. RosettaGX Reveal™, a Thyroid microRNA Classifier for the diagnosis of indeterminate thyroid FNA smears, as well as the full RosettaGX™ portfolio of cancer testing services are commercially available through the Company’s Philadelphia, PA- and Lake Forest, CA-based CAP-accredited, CLIA-certified labs. For more information visit www.rosettagx.com.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future expectations, plans and prospects including, but not limited to statements relating to our ability to obtain new business constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the "Risk Factors" section of Rosetta’s most recently filed Annual Report on Form 20-F, as filed with the SEC. In addition, any forward-looking statements represent Rosetta’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160824005496/en/Business Wire
Last updated on: 24/08/2016
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.