[ACCESSWIRE]
PHILADELPHIA, PA AND REHOVOT, ISRAEL / ACCESSWIRE / May 25, 2017 / Rosetta Genomics Ltd. (NASDAQ: ROSG), a genomic diagnostics company that improves treatment decisions by providing timely and accurate diagnostic information to physicians, announces that the European Patent Office has granted a patent allowance for European patent application No. 11842532.1, titled "Methods and Materials for Classification of Tissue of Origin of Tumor Samples."
The allowed patent application covers RosettaGX Cancer Origin™ and claims a method of distinguishing between cancers of different tissue origins. The method claimed includes the measurement of the relative abundance of 390 nucleotide sequences or sequences having at least about 90% identity thereto in a cancer sample; and compares the measurement to a reference abundance of nucleotide sequences by using a classifier algorithm that allows for distinguishing between cancers of different origins.
"We remain committed to fortifying our global leadership in microRNA intellectual property and this new patent allowance further strengthens that position," noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "Near term we are focusing our internal commercial efforts on RosettaGX Reveal™, our thyroid microRNA classifier for the diagnosis of cancer in indeterminate thyroid nodules. We expect that increasing our investment in Reveal will provide the shortest path to profitability and to growing the RosettaGX brand of microRNA assays. On the strength of Reveal’s success, we expect to convert Reveal customers to utilize our other microRNA assays, such as Cancer Origin, which continues to be offered and ordered by clinicians. In addition, we continue to expand our international commercial business through distributors such as our recently-formed relationships with Rhenium in Israel and Cytolog in Brazil. We will look to expand further in other geographies such as in Europe, which holds significant market potential for Reveal and Cancer Origin and this patent allowance will help in this endeavor."
About Rosetta Genomics
Rosetta is pioneering the field of molecular diagnostics by offering rapid and accurate diagnostic information that enables physicians to make more timely and informed treatment decisions to improve patient care. Rosetta has developed a portfolio of unique diagnostic solutions for oncologists, urologists, endocrinologists, cytopathologists and other specialists to help them deliver better care to their patients. RosettaGX Reveal™, a Thyroid microRNA Classifier for the diagnosis of cancer in thyroid nodules, 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.
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 fortifying our global leadership in microRNA intellectual property, focusing commercial efforts on RosettaGX Reveal™, shortening the path to profitability and establishing the RosettaGX brand by focusing our commercial efforts on RosettaGX Reveal™, converting Reveal customers to utilize our other microRNA assays and statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," and like expressions, and the negative thereof, 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 risks and uncertainties, including, but are not limited to the following: we will require substantial additional funds to continue our operations and, if additional funds are not available, we may need to significantly scale back or cease our operations; we have a history of losses and may never be profitable; if we are unable to expand sales of our diagnostic tests in the United States, it would have a material adverse effect on our business and financial condition; if we are unable to find profitable strategic alternatives for our PersonalizeDx diagnostic testing and services business, it would have a material adverse effect on our business and financial condition; the intensely competitive biotechnology market could diminish demand for our tests and products; the market may not be receptive to any diagnostic tests or therapeutic products using our microRNA technology; we currently have limited sales, marketing or distribution experience and may in the future depend significantly on third parties to commercialize microRNA-based diagnostic tests or therapeutic products we may develop; we are largely dependent upon our distributors for the success of commercialization of our current diagnostic tests; health insurers and other third-party payors may decide not to cover our diagnostic products or may provide inadequate reimbursement, which could jeopardize our commercial prospects; because of Medicare billing rules, we may not receive reimbursement for all tests provided to Medicare patients; if we fail to comply with our obligations under any licenses or related agreements, we could lose license rights that may be necessary for developing microRNA-based diagnostics and therapeutics; if we fail to comply with the complex federal, state, local and foreign laws and regulations that apply to our business, we could suffer severe consequences that could materially and adversely affect our operating results and financial condition; we contract with a single manufacturer for the purchase of microarray chips for certain tests, and the failure of this manufacturer to supply sufficient quantities on a timely basis could have a material adverse effect on our business; and other risk factors discussed under the heading "Risk Factors" in 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.
Rosetta Genomics Contact: Rosetta Genomics Investor Contact:
Rosetta Genomics Contact:
Ken Berlin, President & CEO
(267) 298-1159
[email protected]
Rosetta Genomics Investor Contact:
LHA
Anne Marie Fields
(212) 838-3777
[email protected]
SOURCE: Rosetta Genomics Ltd.
