Rosetta Genomics Names Genetic Technologies Limited Exclusive Distributor for Rosetta`s microRNA-based Assays in Australia, New Zealand and Singapore

Thu Oct 22, 2009 7:30am EDT
 
[-] Text [+]
* GTG Will Distribute Rosetta Genomics` Three Recently Launched miRview Tests in
Australia, New Zealand and Singapore 
* By Leveraging Unique Biomarkers Called microRNAs, Rosetta`s miRview Tests Can
Offer Patients and Physicians New Insights on Cancer

REHOVOT, Israel & PHILADELPHIA & MELBOURNE, Australia--(Business Wire)--
Rosetta Genomics, Ltd. (NASDAQ:ROSG), a leading developer of microRNA-based
molecular diagnostics, and Genetic Technologies Limited (GTG) (NASDAQ:GENE)
(ASX:GTG), the leading private genetic testing laboratory in Australia,
announced today the signing of an exclusive distribution agreement for Rosetta
Genomics` three currently available diagnostic tests. Under the terms of the
agreement, GTG will market Rosetta Genomics` miRview tests in Australia, New
Zealand and Singapore. Further financial terms were not disclosed. 

"We have made remarkable progress in making our tests so widely available in the
short time since they were launched early this year," said Ronen Tamir, Chief
Commercialization Officer of Rosetta Genomics. "We note that this distribution
agreement marks Rosetta Genomics` first entry into the Pacific Rim and
represents the fifth continent on which our miRview tests will be sold." 

Mr. Tamir added, "Genetic Technologies is the leading marketer of genetic tests
for a host of indications, including breast cancer, in Oceania. In addition,
distinguishing mesothelioma from other lung cancers may be a particularly
important task in Australia, where the mining industry is a key component of the
country`s economy. We are very excited to be working with GTG to improve patient
care." 

Paul MacLeman, Chief Executive Officer of Genetic Technologies, said, "This is
an important first step in Genetic Technologies` move from predictive gene tests
into advanced cancer management. We are seeking to leverage in-house developed
tests through partnering with third party developers of novel tests. Through
this approach, the company is aiming to rapidly build a comprehensive portfolio
of genetic tools enabling oncologists to more effectively manage patient
diagnosis and therapy, which may improve treatment outcomes. Genetic
Technologies is very excited to announce its relationship with Rosetta Genomics,
an acknowledged leader in the area of microRNA diagnostic test development." 

The following tests will be distributed by Genetic Technologies:

* miRview mets - This test can accurately identify the primary tumor site in
patients presenting with metastatic cancer, as well in patients whose tumor has
not been identified, and consequently been labeled Cancer of Unknown Primary
(CUP). As metastases need to be treated according to their primary origin,
accurate identification of the metastases` primary origin can be critical for
determining appropriate treatment. Current diagnostic methods to identify the
origin of a metastasis include a wide range of costly, time consuming and at
times inefficient tests. miRview mets offers physicians a fast, accurate and
easy-to-interpret diagnosis of the predicted primary origin. 
* miRview squamous - Using a single microRNA, miRview squamous differentiates
squamous from non-squamous, non-small cell lung cancer (NSCLC) patients. When
administered targeted therapy, whether currently available or under development,
patients with squamous cell carcinoma of the lung have demonstrated varying
response patterns ranging from a high incidence of severe or fatal internal
bleeding in the lungs to overall poor response to treatment. Current methods for
differentiating squamous from non-squamous non-small cell lung cancer are not
standardized, are difficult to reproduce and have low accuracy. miRview squamous
produces a single score that indicates whether a sample is squamous or non
squamous NSCLC. 
* miRview meso - This test leverages microRNA`s high specificity as biomarkers
to differentiate mesothelioma, a cancer connected to asbestos exposure, from
other carcinomas in the lung. As mesothelioma patients require specific
treatment regimens, an accurate diagnosis is critical. Currently, there is no
single diagnostic test that is entirely conclusive for this differentiation. In
addition, pathological diagnosis may suffer from significant inter-observer
variability, and in the absence of a single specific and reliable marker
mesothelioma can be difficult to identify from other cancers. miRview meso is a
highly accurate test that may also assist physicians to rule out mesothelioma in
patients diagnosed with adenocarcinoma in the lung who have been exposed to
mesothelioma-related substances, primarily asbestos particles and heavy metals.

About microRNAs

MicroRNAs (miRNAs) are recently discovered, small RNAs that act as master
regulators of protein synthesis, and have been shown to be highly effective
biomarkers. MicroRNAs` unique advantage as biomarkers lies in their high tissue
specificity, and their exceptional stability in the most routine preservation
methods for biopsies, including Formalin Fixed Paraffin Embedded (FFPE) block.
It has been suggested that their small size (19-21 nucleotides) enables them to
remain intact in FFPE blocks, as opposed to messenger RNA (mRNA), which tends to
rapidly degrade in samples preserved by this method. In addition, early
preclinical data has shown that by controlling the levels of specific microRNAs,
cancer cell growth may be reduced. To learn more about microRNAs, please visit
www.rosettagenomics.com. 

About miRview Products

miRview are a series of microRNA-based diagnostic products offered by Rosetta
Genomics. miRview mets accurately identifies the primary tumor site in
metastatic cancer and Cancer of Unknown Primary (CUP). miRview squamous
accurately identifies the squamous subtype of non small cell lung cancer
(NSCLC), which carries an increased risk of severe or fatal internal bleeding
and poor response to treatment for certain therapies. miRview meso diagnoses
mesothelioma, a cancer connected to asbestos exposure. miRview tests are
designed to provide objective diagnostic data; it is the treating physician`s
responsibility to diagnose and administer the appropriate treatment. In the US
alone, over 100,000 patients a year may benefit from the miRview mets test,
60,000 from miRview squamous, and 60,000 from miRview meso, with similar numbers
of patients outside the US. The company`s tests are now being offered through
distributors around the globe. For more information, please visit
www.mirviewdx.com. 

About Rosetta Genomics

Rosetta Genomics (NASDAQ:ROSG) is a leading developer of microRNA-based
molecular diagnostics. Founded in 2000, the company`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 IP position and proprietary platform
technologies, Rosetta Genomics is working on the application of these
technologies in the development of a full range of microRNA-based diagnostic
tools. The company`s first three microRNA-based tests, miRview squamous, miRview
mets, and miRview meso, are commercially available through its
Philadelphia-based CLIA-certified lab. Rosetta Genomics is the 2008 winner of
Wall Street Journal`s Technology Innovation Awards in the medical/biotech
category. To learn more, please visit www.rosettagenomics.com. 

About Genetic Technologies Limited

Genetic Technologies (ASX:GTG) (NASDAQ Global Market: GENE) specializes in
licensing, genetic testing and research. GTG`s exclusive access to a wide range
of genetic tests enables it to expand its testing services throughout the
Asia-Pacific region. The Company is the leading private provider of molecular
diagnostics for cancer susceptibility in Australia and is seeking to build on
this position through strategic relationships. GTG`s pipeline of innovative
research projects will potentially add considerable further value to its
licensing and genetic testing businesses. 



Forward-Looking Statement Disclaimer

Various statements in this release concerning Rosetta`s future expectations,
plans and prospects, including without limitation, statements relating to the
role of microRNAs in human physiology and disease, the potential of microRNAs in
the diagnosis and treatment of disease, and Rosetta`s expected expansion of its
global distribution network 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 risks related to: Rosetta`s approach to discover microRNA technology
and to work on the application of this technology in the development of novel
diagnostics and therapeutic tools, which may never lead to commercially accepted
products or services; Rosetta`s ability to obtain, maintain and protect its
intellectual property; Rosetta`s ability to enforce its patents against
infringers and to defend its patent portfolio against challenges from third
parties; Rosetta`s need and ability to obtain additional funding to support its
business activities; Rosetta`s dependence on third parties for development,
manufacture, marketing, sales, and distribution of products; Rosetta`s ability
to successfully develop its candidate tools, products and services; Rosetta`s
ability to obtain regulatory clearances or approvals that may be required for
its products and services; the ability to obtain coverage and adequate payment
from health insurers for the products and services comprising Rosetta`s
technology; competition from others using technology similar to Rosetta`s and
others developing products for similar uses; Rosetta`s dependence on
collaborators; and Rosetta`s short operating history; as well as 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, 2008 as filed with the Securities and
Exchange Commission. 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, Ltd.
Ron Kamienchick, 215-382-9000 ext 318
investors@rosettagenomics.com
or
Investor Contacts:
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
Bruce Voss, 310-691-7100
bvoss@lhai.com
or
Genetic Technologies Limited
Dr. Paul D.R. MacLeman
Chief Executive Officer
+61-3-8412-7000 

Copyright Business Wire 2009

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video