Rosetta Genomics Enters Distribution Agreement for RosettaGX Reveal™ in Israel with Rhenium
September 29 2016 - 10:54AM
Business Wire
First-of-its-kind Thyroid Cancer Diagnostic
Assay will be covered by Israel’s Largest Health Insurance
Company
Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and
provider of microRNA-based and other molecular diagnostics, today
announced that the Company has entered into an exclusive
distribution agreement with Rhenium Ltd. for the sales and
marketing of RosettaGX Reveal™ (Reveal), the Company’s
first-of-its-kind microRNA classifier for indeterminate thyroid
nodules, in Israel. Under the terms of the agreement, Rhenium’s
exclusivity is contingent on Rhenium meeting certain volume
commitments.
Medical services in Israel are provided through four health
insurance companies known as Sick Funds: Clalit, Maccabi, Meuhedet
and Leumit. Clalit, (General Sick Fund), the largest organization
and the first health insurance institution in Israel, has indicated
that it will include the RosettaGX Reveal assay in its Sick
Fund.
“We are particularly pleased to expand access for Reveal to
Israel as this innovative assay and its underlying microRNA
technology were developed here. Unlike other assays in the space,
Reveal does not require fresh tissue. These simple logistics make
it ideally suited for international distribution agreements like
this one,” stated Kenneth A. Berlin, President and Chief Executive
Officer of Rosetta Genomics. “We are delighted to be partnering
with Rhenium as they are known leaders in the diagnostic field in
Israel. Rhenium’s knowledge of the Israeli market, along with its
high quality sales teams will be very beneficial for successful
market entry for Reveal and makes them an ideal partner for
Rosetta. Importantly, having the largest Sick Fund cover Reveal
should significantly enhance commercialization and market adoption
in Israel. In addition, this agreement paves the way for us to
partner other diagnostic portfolio products with Rhenium for
distribution in Israel in the future.”
“We look forward to bringing Reveal to the Israeli market as
many patients with indeterminate thyroid cancer undergo surgery as
a precaution despite the fact that up to 80% of these cases are
benign. This exposes patients to unnecessary surgical risk and
costs the healthcare system millions of dollars,” stated Israeli
Dror, Chief Executive Officer of Rhenium. “Reveal represents the
type of innovative, best-in-class product Rhenium prides itself on
supplying to patients and physicians.”
About Rhenium Ltd.
Established in 1991, Rhenium is one of Israel’s leading
suppliers of laboratory, research and diagnostic equipment. Rhenium
works with top-level manufacturers from around the world to import
the best and most suitable equipment for its 15,000 clients,
whether for hospitals and clinics, universities and research
facilities, or the growing number of bio-tech and diagnostics
companies emerging from Israel’s burgeoning start-up community.
Rhenium’s unique asset is its professional, end-to-end service,
made simple by the knowledge and know-how of its talented team.
Each team member specializes in a different area of scientific
research (most have a Master’s degree or above), and they use their
expertise to make sure that Rhenium’s customers get exactly what
they are looking for. And it doesn’t stop there. Rhenium’s customer
service team provides full support at every stage in the process,
from initial research to on-site technical assistance. Rhenium Ltd.
complies with the ISO 9001 requirements.
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 enhancing commercialization and market
adoption in Israel, being included in the Sick Funds for coverage
and adding other products to be distributed per the Rhenium
Agreement 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/20160929005934/en/
Rosetta Genomics:Ken Berlin, 267-298-1159President &
CEOinvestors@rosettagx.comorRosetta Genomics
Investors:LHAAnne Marie Fields,
212-838-3777afields@lhai.com
Rosetta Genomics (CE) (USOTC:ROSGQ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Rosetta Genomics (CE) (USOTC:ROSGQ)
Historical Stock Chart
From Apr 2023 to Apr 2024