Cancer Genetics, Inc. and Sayre Therapeutics Announce Distribution Agreement to Commercialize CGI’s Proprietary FDA-cleared...
June 23 2016 - 8:25AM
Cancer Genetics, Inc. (Nasdaq:CGIX); (“CGI” or “The Company”), a
leader in enabling precision medicine for oncology through
molecular markers and diagnostics, announces an exclusive
distribution agreement that provides Sayre Therapeutics sales and
marketing rights of Cancer Genetics' Tissue of Origin® (TOO®) test
in India and South Asia. TOO® data generated by the use of the test
in India will contribute to the expansion of CGI’s knowledge base
to further validate the clinical utility of the test on a global
basis.
“We view this partnership with Sayre as an
important milestone in making precision medicine increasingly
available outside the US, especially in high-growth, high-demand
markets like India,” said Panna Sharma, CEO and President of Cancer
Genetics. “We plan to continue broadening the access to our unique,
proprietary portfolio of genomic and biomarker driven tests, which
help in the management of cancer care, and Sayre has demonstrated
reach and influence in the oncology sector throughout India.”
According to Dr. Palanki Satya Dattatreya,
Senior Consultant and Medical Oncologist at Omega Hospitals, in
Hyderabad, India, “Cancer of Unknown Primary (CUP) is not an
uncommon condition in India. CUP continues to be an enigma to the
physicians and an aggressive disease with unfavorable prognosis to
the patients. Generally, CUP patients are subjected to a battery of
repeated tests and go through agonizing uncertainty about their
disease condition. The Tissue Of Origin (TOO®) test, which is based
on the principle of gene expression profiling, can be very useful
in such cases. TOO® test with its high specificity and sensitivity
takes away the element of ambiguity, and enables the patient to get
a more specific guideline-based therapy which translates into
potentially better survival rates.”
CGI’s TOO® is a microarray-based gene
expression test that aids in identifying challenging tumors,
including metastatic, poorly differentiated, and undifferentiated
cancers. It is able to report the tissue of origin of 15 of
the most common tumor types (thyroid, breast, non-small cell lung,
pancreatic, gastric, colorectal, liver, bladder, kidney,
non-Hodgkin’s lymphoma, melanoma, ovarian, sarcoma, testicular germ
cell, and prostate tumors), representing 58 cancer morphologies and
covering 90% of all solid tumors. TOO® leads to a change in
treatment 65% of the time.
Sayre has begun active marketing efforts in major metro markets
of India and South Asia and has held seminars and workshops with
key opinion leaders and clinicians. "It is heartening to note that
many physicians are very positive about the test and feel that this
is the way forward in making guided decisions or modifications of
the treatment plan of patients with Cancer of Unknown Primary
(CUP)," said Ravindranath Kunjithai, Head Medical and Regulatory
Affairs at Sayre Therapeutics.
For more information about TOO® please
visit www.cancergenetics.com/laboratory-services/specialty-tests/too-tissue-of-origin-test/.
ABOUT CANCER GENETICSCancer Genetics Inc. is a
leader in enabling precision medicine in oncology from bench to
bedside through the use of oncology biomarkers and molecular
testing. CGI is developing a global footprint with locations in the
US, India and China. We have established strong clinical research
collaborations with major cancer centers such as Memorial Sloan
Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of
Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services
that provide critical genomic and biomarker information. Its
state-of-the-art reference labs are CLIA-certified and
CAP-accredited in the US and have licensure from several states
including New York State.
For more information, please visit or follow CGI
at:
Internet: http://www.cancergenetics.com
Twitter: @Cancer_Genetics
Facebook: www.facebook.com/CancerGenetics
ABOUT SAYRE
Sayre Therapeutics Private Ltd. is South
Asia’s only integrated platform for disease management backed
by a unique distribution and commercialization model for novel and
/ or differentiated drugs, companion diagnostics, and drug-delivery
devices in the super-specialty areas of Oncology and Immunology.
Companies with novel Oncology and Immunology assets can work with
us in South Asia, as we focus on alleviating life-threatening
diseases with high unmet need.
For more information, please
visit:Internet: http://www.sayretherapeutics.comEmail:
pr@sayretherapeutics.comFacebook:
www.facebook.com/SayreTherapeutics
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 Cancer Genetics Inc.’s expectations
regarding the completion, timing, pricing and size of the offering
described in this press release 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, risks of
cancellation of customer contracts or discontinuance of trials,
risks that anticipated benefits from acquisitions will not be
realized, 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 Cancer Genetics, Inc. Form 10-K for the year ended
December 31, 2015 and the Form 10-Q for the Quarter ended March 31,
2016 along with other filings with the Securities and Exchange
Commission. These forward-looking statements speak only as of the
date hereof. Cancer Genetics, Inc. disclaims any obligation to
update these forward-looking statements.
Contact:
Panna Sharma
CEO & President
Cancer Genetics, Inc.
201-528-9200
panna.sharma@cgix.com
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