UPDATE: Rosetta Genomics & Moffitt Cancer Center Enter Into Agreement to Advance Development of microRNA-Based Cancer Diagnos...
June 09 2014 - 8:10AM
Marketwired
UPDATE: Rosetta Genomics and Moffitt Cancer Center Enter Into
Agreement to Advance Development of microRNA-Based Cancer
Diagnostic
Enhances the Development of Rosetta's Thyroid Neoplasia
Assay
PRINCETON, NJ and REHOVOT, ISRAEL--(Marketwired - Jun 9, 2014) -
Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and
provider of microRNA-based molecular diagnostics and therapeutics,
announces that the Company has entered into an agreement with
Moffitt Cancer Center to advance the development and
commercialization of Rosetta's thyroid neoplasia assay.
Under the agreement, Rosetta will work with Marino Leon, M.D.,
associate member of the Department of Anatomic Pathology at
Moffitt.
An estimated 4-7 percent of the general population develops
nodules in the thyroid that can be felt on examination, though
fewer than 10 percent are malignant. A fine needle aspiration
(FNA), a non-surgical procedure used to obtain tissue for analysis
by a pathologist, is the standard technique for detecting cancer.
It is estimated that nearly 500,000 FNAs are performed each year in
the United States and approximately 740,000 are performed annually
in Europe. Interpretation of FNA samples is not always conclusive,
and up to 30 percent of samples have indeterminate results.
"This agreement is a significant step forward in the development
of our key pipeline project, an assay for the differential
diagnosis of indeterminate thyroid FNAs. We believe that
working with experts like Dr. Leon and others at Moffitt will
significantly enhance and accelerate the development of our thyroid
neoplasia assay," stated Kenneth A. Berlin, President and Chief
Executive Officer. "Results from our initial studies
demonstrated that microRNA expression levels can differentiate
malignant nodules from benign nodules, and also demonstrated our
ability to extract and profile microRNAs from thyroid FNAs in
various sample types and in a way consistent with common clinical
practices. This agreement with Moffitt will help us further
advance the development of this important assay, and should allow
us to achieve our goal of launching this important assay prior to
the end of 2015."
"Many patients with repeated indeterminate thyroid FNA results
are sent to surgery as a precaution, some of these cases are benign
lesions. This exposes patients to unnecessary surgical risk
and costs the system hundreds of millions of dollars," noted Dr.
Leon. "Rosetta is developing a thyroid neoplasia assay that
has the potential to improve clinical management in a
cost-effective manner by reducing the number of unnecessary
surgeries. This is in keeping with Moffitt's commitment to
support innovations that enhance patient care and outcomes."
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 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 and therapeutics. Rosetta currently commercializes
a full range of microRNA-based molecular diagnostics. Rosetta's
cancer testing services are commercially available through its
Philadelphia-based CAP-accredited, CLIA-certified lab. For more
information please visit www.rosettagenomics.com.
About Moffitt Cancer Center Located in Tampa, Florida, Moffitt
is one of only 41 National Cancer Institute-designated
Comprehensive Cancer Centers, a distinction that recognizes
Moffitt's excellence in research, its contributions to clinical
trials, prevention and cancer control. Moffitt is the No. 1 cancer
hospital in Florida and has been listed in U.S. News & World
Report as one of "America's Best Hospitals" for cancer since 1999.
With more than 4,200 employees, Moffitt has an economic impact on
the state of nearly $2 billion. For more information please visit
www.moffitt.org.
Forward-Looking Statement Disclaimer Various statements in this
release concerning Rosetta's future expectations, plans and
prospects, including without limitation, Rosetta's Cancer of Origin
Test™, Rosetta's development or commercialization of molecular
diagnostics and specifically its development of a diagnostic for
Thyroid neoplasia, the timeline for the development of Rosetta's
potential molecular diagnostic assays and specifically its
development of a diagnostic for Thyroid neoplasia, the market
acceptance of Rosetta's cancer testing services, particularly the
Rosetta Cancer Origin Test™ and Rosetta's development of
personalized medicine products and services, 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.
Rosetta Genomics Contact: Rosetta Genomics Ken Berlin President
& CEO 609-419-9003 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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