PHILADELPHIA and REHOVOT,
Israel, Aug. 20, 2012 /PRNewswire/ -- Rosetta
Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of
microRNA-based molecular diagnostics, today announced the
completion of three executive hires and an expansion of its
commercial operations in preparation for expected sales
growth of its microRNA diagnostic assays, specifically its flagship
product miRview® mets2. The Company
recently announced a co-marketing agreement with Precision
Therapeutics, Inc. for miRview® mets2, as
well as a recent decision by Medicare to reimburse the
miRview® mets2 assay.
"In addition to the terrific management hires we are announcing
today, we have begun the process of adding sales representatives to
our oncology-focused sales team and have already doubled the
capacity of our laboratory operations in anticipation of an
increase in demand as our miRview® mets2
assay gains further market acceptance," stated Kenneth A. Berlin, President and Chief Executive
Officer of Rosetta Genomics. "In addition, we have begun the
process of adding to our national accounts management team to work
with private payers to increase the number of covered lives for our
miRview® mets2 assay.
"With 200,000 patients in the U.S. diagnosed with Cancers of
Unknown or Uncertain Primary ("CUP") each year, there is a
significant market opportunity for miRview®
mets2. Our goal is to articulate our value with
this lead product and then leverage that success to advance the
commercialization of other products in our portfolio," added Mr.
Berlin.
The following individuals recently joined or are soon expected
to join the Company's management team:
- As previously announced, Ron
Kalfus joined Rosetta Genomics in May
2012 as Chief Financial Officer, succeeding interim CFO
Tomer Assis. Previously Mr.
Kalfus served as CFO and Treasurer of MabCure Inc., a publicly
traded biotechnology startup company focused on early cancer
detection using monoclonal antibodies. Prior to that he was
with Toys "R" Us for four years where he was responsible for the
company's SEC reporting and later in the financial planning
department managing the Toys "R" Us division's annual budget.
Mr. Kalfus previously worked in public accounting where he
specialized in audits of medium-sized enterprises and public
companies. He is a licensed CPA in the State of New Jersey, and holds a Masters in
Accounting from Fairleigh Dickinson
University and a Bachelor's degree in Finance from the
University of Georgia.
- Guy C. Malchi will join Rosetta
Genomics on September 2, 2012, in the
newly created position of Executive Vice President of Corporate
Development. Most recently he was with Champions Oncology,
Inc. where he was General Manager, UK Diagnostic Subsidiary and
Head of Pharma Business. At Champions he designed and
implemented the drug pipeline strategy and business plan, and
signed several licensing deals and strategic partnerships with
leading biotechnology firms and academic institutions.
Previously he was CEO of Optimata, Ltd., an Israeli biotechnology
company that developed and marketed biosimulation predictive
software. Mr. Malchi spent seven years at TEFEN Ltd.,
Management Consulting in London,
where he was a Founding Partner and Head of European Life Science
Practice. Mr. Malchi holds a B.Sc. in Industrial Engineering
from Tel-Aviv University and an
Executive MBA from the London Business School. Guy will focus
on leading the Company's effort to leverage its microRNA platform
in partnerships with pharmaceutical and biotechnology companies, as
well as with medical technology and diagnostic companies. In
addition he will lead efforts aimed at licensing and/or acquiring
new opportunities.
- Steve Miller joined the Company
in June 2012 in the newly created
position of Director of Marketing and Reimbursement. Prior to
Rosetta Mr. Miller operated his own marketing and reimbursement
consultancy business. Previously he spent nine years at
Veridex, LLC, a Johnson & Johnson company focused on oncology
medical devices and diagnostics, where he was Worldwide Product
Director with responsibility for brand P&L, and the development
and execution of annual marketing plans. During his last two
years with Veridex, Mr. Miller also played a key leadership role in
brand reimbursement efforts. Prior to that he was Worldwide Product
Director for the Ortho-Clinical Diagnostics blood donor screening
franchise. Mr. Miller received a higher technical diploma in
Applied Biology from the North East Surrey College of Technology in
the UK. Mr. Miller will focus on driving adoption of
Rosetta's marketed assays as well as widening the insurance
coverage for these assays.
"It is with great pleasure that I welcome Ron, Guy and Steve to
the Rosetta team. Their collective experience, relationships
and know-how will be invaluable as we work to capitalize on our
powerful and versatile microRNA platform and as we leverage our
growing commercial operation to expand product sales and attract
potential partnerships and collaborations," added Mr. Berlin.
About Rosetta Genomics
Rosetta develops and commercializes a full range of
microRNA-based molecular diagnostics. Founded in 2000,
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. Rosetta's miRview®
product line is commercially available through its Philadelphia-based CAP-accredited,
CLIA-certified lab. Frost & Sullivan recognized Rosetta
Genomics with the 2012 North American Next Generation Diagnostics
Entrepreneurial Company of the Year Award.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future
expectations, plans and prospects, including without limitation,
statements relating to Rosetta's strategic plan and the market
acceptance of Rosetta's miRview® assays, particularly
miRview® mets2, 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 Annual Report on Form 20-F for the
year ended December 31, 2011 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.
Company
Contact:
|
Investor Contacts:
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Rosetta
Genomics
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LHA
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Ken
Berlin, President & CEO
|
Anne Marie
Fields
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(215)
382-9000, ext.
326
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(212)
738-3777
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investors@rosettagenomics.com
|
afields@lhai.com
|
|
or
|
|
Bruce
Voss
|
|
(310)
691-7100
|
|
bvoss@lhai.com
|
SOURCE Rosetta Genomics Ltd.