Cancer Genetics, Inc. and Roche Announce Expanded, Exclusive International Agreement to Provide Molecular Diagnostic Cancer T...
February 10 2014 - 7:00AM
- CGI Will Be the Exclusive Provider of Molecular Diagnostic
Cancer Testing for Roche Servicios in Central America and the
Caribbean
- CGI Will Develop A Center of Excellence for Lung Cancer Testing
Utilizing the FDA-Approved cobas® Platform
Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or the "Company"), an
emerging leader in DNA-based diagnostics, and Roche Servicios S.A.,
an affiliate of Swiss drug maker Roche, have entered into an
exclusive multi-year agreement to expand molecular diagnostic
cancer testing in Central America and the Caribbean.
Under the terms of the three-year contract agreement, CGI will
leverage the power of Roche's FDA-approved cobas® platform as the
Company seeks to become a center of excellence for oncology-focused
testing in the region. Roche's cobas® technology allows for the
amplification and sequencing of targeted genomic regions of
interest, using mutational status to guide appropriate treatment
selection.
"When we began our relationship with Cancer Genetics, we were
looking for a provider that would guarantee us the quality of the
test, since that directly impacts patient care and outcome. For our
patients every minute is crucial and we also wanted the focus on
quality to be accompanied by excellent response and turnaround
times. Over the past two years of the relationship, Cancer Genetics
has continually demonstrated their commitment to both our quality
requirements and response time needs. These shared values with
Roche are proof that they understand the importance of getting
treatment and solutions to our patients. Since day one, Cancer
Genetics, has been a true business partner," said Alvaro Soto, CEO
of Roche Services.
Additionally, under the agreement, CGI will be the exclusive
provider of molecular diagnostic cancer testing for Roche Servicios
in Central America and the Caribbean. This expanded relationship
covers multiple disease categories, including testing for lung
cancer, breast cancer, and lymphoma. CGI first began offering such
testing for Roche Servicios in late 2012.
"The multiyear contract and expansion of our relationship with
Roche Servicios is testament to the quality of the molecular
diagnostic services we provide, and the focus we have on meeting
clinical oncology needs," stated Panna Sharma, CEO of CGI. "Our
proprietary testing solutions coupled with state-of-the-art
molecular testing enables Roche Servicios to deliver personalized
cancer treatment for their patients throughout the region, bringing
state-of-the-art biomarker-based cancer testing into the community
setting where it will have the greatest impact."
CGI will initially focus on cobas®-based testing starting with
the FDA-approved epidermal growth factor receptor (EGRF) mutation
test, intended to help select non-small cell lung cancer patients
for treatment with EGFR inhibitors. The partnership allows for
expansion into other cancer categories and regions as mutually
decided by CGI and Roche.
According to the American Cancer Society, there were an
estimated 255,900 new cases of cancer in Central America and the
Caribbean in 2008, representing more than 2% of all cases globally.
Lancet Oncology, the world's leading oncology journal, reports that
while the incidence rate in the region is far lower than in the
U.S. and Europe, the mortality rate is substantially higher due to
late diagnosis and lack of treatment access.
About Cancer Genetics:
Cancer Genetics, Inc. is an emerging leader in DNA-based cancer
diagnostics, servicing some of the most prestigious medical
institutions in the world. Our tests target cancers that are
difficult to diagnose and predict treatment outcomes. These cancers
include hematological, urogenital and HPV-associated cancers. We
also offer a comprehensive range of non-proprietary
oncology-focused tests and laboratory services that provide
critical genomic information to healthcare professionals, as well
as biopharma and biotech companies. Our state-of-the-art reference
lab is focused entirely on maintaining clinical excellence and is
both CLIA certified and CAP accredited and has licensure from
several states including New York State. We have established strong
research collaborations with major cancer centers such as Memorial
Sloan-Kettering, The Cleveland Clinic, Mayo Clinic and the National
Cancer Institute. For further information, please
see www.cancergenetics.com.
Forward Looking Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements pertaining to future financial and/or
operating results, future growth in research, technology, clinical
development and potential opportunities for Cancer Genetics, Inc.
products and services, along with other statements about the future
expectations, beliefs, goals, plans, or prospects expressed by
management constitute 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") should also be considered to
be forward-looking statements. Forward-looking statements involve
risks and uncertainties, including, without limitation, risks
inherent in the development and/or commercialization of potential
products, uncertainty in the results of clinical trials or
regulatory approvals, need and ability to obtain future capital,
maintenance of intellectual property rights and other risks
discussed in the Company's Form 10-Q for the quarter ended
September 30, 2013 and other filings with the Securities and
Exchange Commission. These forward-looking statements speak only as
of the date hereof. Cancer Genetics disclaims any obligation to
update these forward-looking statements.
CONTACT: Investor Relations
Michael Rice
Life Science Advisors LLC
646-597-6979
Media Relations
RedChip Companies, Inc.
Jon Cunningham, 800-733-2447, ext. 107
jon@redchip.com
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