Rosetta Genomics Announces Commercial Partnership with Precipio Diagnostics
February 09 2015 - 7:00AM
Business Wire
Expands Rosetta’s Oncology Diagnostics Product
Offering and Provides Access to the Expertise of Renowned Pathology
Department at Yale School of Medicine
Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and
provider of microRNA-based molecular diagnostics, announces that
the Company has entered into a co-promotional commercial
partnership with Precipio Diagnostics (“Precipio”) for the sales
and marketing of Precipio’s oncology tests, which include bone
marrow and peripheral blood testing for hematological malignancies,
such as leukemias and lymphomas. These products are being promoted
by Rosetta in California, Connecticut, New Jersey, Oklahoma, Texas,
Virginia and Washington, D.C., with an expectation to expand
nationally over time.
Precipio Diagnostics is the only cancer diagnostics company to
successfully combine the experience, knowledge and expertise of
academic-level pathology from the Yale School of Medicine with
commercial-level service. Oncologists around the world benefit from
direct access to the highest quality of diagnostic support, coupled
with rapid and efficient service.
“We are very pleased to partner with Precipio and to include
their value-added tests to our growing product portfolio as we are
confident our commercial team can effectively market Precipio’s
cutting edge oncology diagnostics services. Moreover, the
collaboration with the Yale Department of Pathology offers a
significant advantage as it is home to some of the world’s experts
in pathology. Their credibility, combined with the confidence
oncologists have with world-class academic pathologists reading
their cases cannot be understated,” noted Kenneth A. Berlin,
President and Chief Executive Officer of Rosetta Genomics.
“Both Rosetta and Precipio have outstanding products that serve
the same customers. Joining forces to offer these services through
this partnership strengthens both companies’ value proposition, and
improves the quality and level of services that our customers
receive,” said Ilan Danieli, Chief Executive Officer of Precipio
Diagnostics. “We look forward to continuing to build the
relationship with Rosetta.”
“This partnership is also expected to enhance awareness of and
demand for the Rosetta Cancer Origin Test™. We will promote the
Precipio diagnostic services to the same doctors who also struggle
with patients without a definitive diagnosis as to their cancers’
origin, which hampers decisions regarding optimal therapeutic
approach. Our Cancer Origin Test offers a molecular solution to
help classify these patients and to help guide optimal treatment
decisions. In addition, this partnership with Precipio along with
our Admera collaboration allows us to provide more complete
solutions for our customers and to optimize our commercial
infrastructure,” added Mr. Berlin.
About Precipio Diagnostics
Precipio Diagnostics is harnessing the intellect, expertise and
technology developed within academia, to deliver quality diagnostic
information to physicians and patients worldwide. Through its
collaborations with world-class academic institutions specializing
in cancer research, diagnostics and treatment, and its experience
delivering quality service, Precipio Diagnostics offers a new
standard of support and the highest level of care to patients.
About Rosetta Cancer Testing Services
Rosetta Cancer Tests are a series of microRNA-based diagnostic
testing services offered by Rosetta Genomics. The Cancer Origin
Test can accurately identify the primary tumor type in primary and
metastatic cancer including cancer of unknown or uncertain primary
(CUP). 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™, 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.
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.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future
expectations, plans and prospects, including without limitation,
statements that Rosetta’s commercial team can effectively market
Precipio’s cutting edge oncology diagnostics services, that the
partnership with Precipio is expected to enhance awareness of and
demand for Rosetta’s Cancer Origin Test and that the collaborations
with Precipio and Admera will allow Rosetta to provide more
complete solutions for our customers and to optimize its commercial
infrastructure, 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, 2013 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:Ken Berlin, 609-419-9003President &
CEOinvestors@rosettagenomics.comorRosetta Genomics
Investors:LHAAnne Marie Fields,
212-838-3777afields@lhai.comorBruce Voss,
310-691-7100bvoss@lhai.com
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