OncoCyte Latest Lung Cancer Diagnostic Test Data Accepted for Slide Presentation at CHEST 2017 Annual Meeting
August 07 2017 - 7:00AM
OncoCyte Corporation (NYSE MKT:OCX), a developer of novel,
non-invasive tests to support the early detection of cancer,
announced today that data from the Company’s latest confirmatory
lung cancer diagnostic research have been accepted for a slide
presentation at the American College of Chest Physician’s CHEST
2017 annual meeting. The meeting will be held in Toronto, Ontario,
Canada, from October 28 to November 1, 2017.
The presentation will be given by Dr. Anil
Vachani, an Associate Professor of Medicine at the Hospital of the
University of Pennsylvania and the Philadelphia Veteran's
Administration Medical Center.
“OncoCyte’s clinical trials continue to suggest
that their diagnostic could result in a significant advancement in
the management of patients with suspected lung cancer,” said Dr.
Vachani. “This test has the potential to considerably reduce the
number of invasive and costly lung biopsies, which will better meet
the needs of patients and clinicians.”
OncoCyte recently announced successful
completion of the Analytical Validation Study of its liquid biopsy
lung cancer diagnostic test and initiation of the Clinical
Validation Stage, which is the final stage before commercial
launch. Successful completion of the Clinical Validation studies
will position OncoCyte to be the only company to market a
non-invasive liquid biopsy confirmatory lung cancer diagnostic
test. OncoCyte estimates that a $4.7 billion annual market could
develop in the U.S. for confirmatory lung cancer liquid biopsy
tests, depending on market penetration and reimbursable pricing.
OncoCyte is currently building its commercial infrastructure for
its planned launch of the lung cancer diagnostic test.
“CHEST’s acceptance of the latest data for a
slide presentation confirms the importance of our non-invasive
diagnostic test for the early detection of lung cancer, which is a
notable achievement for OncoCyte,” commented William Annett, Chief
Executive Officer. “An effective blood-based test to support the
early stage diagnosis of lung cancer could significantly reduce
hospitalizations due to avoidable biopsies. We look forward to
receiving CLIA certification, successfully completing the Clinical
Validation Study and launching the test this year.”
About OncoCyte Corporation
OncoCyte is focused on the development and
commercialization of novel, non-invasive blood and urine (“liquid
biopsy”) diagnostic tests for the early detection of cancer to
improve health outcomes through earlier diagnoses, to reduce the
cost of care through the avoidance of more costly diagnostic
procedures, including invasive biopsy and cystoscopic procedures,
and to improve the quality of life for cancer patients. While
current biopsy tests use invasive surgical procedures to provide
tissue samples in order to determine if a tumor is benign or
malignant, OncoCyte is developing a next generation of diagnostic
tests that will be based on liquid biopsies using blood or urine
samples. OncoCyte’s pipeline products are intended to be
confirmatory diagnostics for detecting lung, breast and bladder
cancer. OncoCyte’s diagnostic tests are being developed using
proprietary sets of genetic and protein markers that differentially
express in specific types of cancer.
OncoCyte Forward Looking
Statements
Any statements that are not historical fact
(including, but not limited to statements that contain words such
as “will,” “believes,” “plans,” “anticipates,” “expects,”
“estimates” and similar expressions) are forward-looking
statements. These statements include those pertaining to the
implementation and results of our future financial and/or operating
results, future growth in research, technology, clinical
development, and potential opportunities for OncoCyte, along with
other statements about the future expectations, beliefs, goals,
plans, or prospects expressed by management. Forward-looking
statements involve risks and uncertainties, including, without
limitation, risks inherent in the development and/or
commercialization of potential diagnostic tests or products,
uncertainty in the results of clinical trials or regulatory
approvals, the need and ability to obtain future capital, and
maintenance of intellectual property rights, and the need to obtain
third party reimbursement for patient’s use of any diagnostic tests
we commercialize. Actual results may differ materially from the
results anticipated in these forward-looking statements and as such
should be evaluated together with the many uncertainties that
affect the business of OncoCyte, particularly those mentioned in
the “Risk Factors” and other cautionary statements found in
OncoCyte’s Securities and Exchange Commission filings. OncoCyte
disclaims any intent or obligation to update these forward-looking
statements, except as required by law.
Investor Contact:
EVC Group, Inc.
Matt Haines / Michael Polyviou
917-733-9297 / 212-850-5600
mhaines@evcgroup.com /mployviou@evcgroup.com
Financial Media Contact:
GIBSON Communications, LLC
Tom Gibson
201-476-0322
tom@tomgibsoncommunications.com