Rosetta Genomics Announces Master Service Provider Agreement With a Major, Global Biopharmaceutical Company
January 13 2014 - 8:00AM
Marketwired
Rosetta Genomics Announces Master Service Provider Agreement With a
Major, Global Biopharmaceutical Company
Leverages microRNA Biomarker Platform and Expertise in a
Collaboration on a Novel Therapeutic Approach
PRINCETON, NJ and REHOVOT, ISRAEL--(Marketwired - Jan 13, 2014)
- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and
provider of microRNA-based molecular diagnostics, announces that it
has signed a master service provider agreement with an undisclosed
major global biopharmaceutical company, under which, Rosetta will
provide its microRNA profiling and other services pursuant to a
collaboration in important areas of unmet medical need utilizing a
novel therapeutic approach.
"We are delighted to be using our cutting-edge microRNA
expertise and capabilities to assist one of the world's leading
biopharmaceutical companies to advance their research and
development efforts on this important, novel therapeutic approach,"
stated Kenneth A. Berlin, President and Chief Executive Officer of
Rosetta Genomics. "In addition to our current cancer testing
services and new products from our own, internal research and
development initiatives, collaborations such as these represent our
third major platform for revenue growth. Moving forward, we
expect to enter into additional similar agreements as we seek to
monetize our leading microRNA platform and expertise."
About Rosetta Cancer Testing Services Rosetta Cancer Tests are a
series of microRNA-based diagnostic testing services offered by
Rosetta Genomics. The Rosetta Cancer Origin Test™ can accurately
identify the primary tumor type in primary and metastatic cancer
including cancer of unknown or uncertain primary (CUP). Rosetta
Mesothelioma Test™ diagnoses mesothelioma, a cancer connected to
asbestos exposure. The Rosetta Lung Cancer Test™ accurately
identifies the four main subtypes of lung cancer using small
amounts of tumor cells. The Rosetta Kidney Cancer Test™ accurately
classifies the four most common kidney tumors: clear cell renal
cell carcinoma (RCC), papillary RCC, chromophobe RCC and
oncocytoma. Rosetta's assays are designed to provide objective
diagnostic data; it is the treating physician's responsibility to
diagnose and administer the appropriate treatment. In the U.S.
alone, Rosetta Genomics estimates that 200,000 patients a year may
benefit from the Rosetta Cancer Origin Test™, 60,000 from the
Rosetta Mesothelioma Test™, 65,000 from the Rosetta Kidney Cancer
Test™ and 226,000 patients from the Rosetta Lung Cancer Test™. The
Company's assays are offered directly by Rosetta Genomics in the
U.S., and through distributors around the world. For more
information, please visit www.rosettagenomics.com. Parties
interested in ordering the test can contact Rosetta Genomics at
(215) 382-9000 ext. 309.
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 cancer
testing services are 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
potential revenue growth and the expectation to enter into
additional similar agreements as Rosetta seeks to monetize its
leading microRNA platform and expertise, 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, 2012 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: Rosetta Genomics Ken Berlin President & CEO
(609) 419-9000, ext. 1326 investors@rosettagenomics.com Investor
Contacts: LHA Anne Marie Fields (212) 838-3777 afields@lhai.com or
Bruce Voss (310) 691-7100 bvoss@lhai.com
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