Rosetta Genomics (ROSG) Enters Distribution Agreement with Rhenium for RosettaGX Reveal in Israel
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Rosetta Genomics Ltd. (Nasdaq: ROSG) announced that the Company has entered into an exclusive distribution agreement with Rhenium Ltd. for the sales and marketing of RosettaGX Reveal (Reveal), the Company’s first-of-its-kind microRNA classifier for indeterminate thyroid nodules, in Israel. Under the terms of the agreement, Rhenium’s exclusivity is contingent on Rhenium meeting certain volume commitments.
Medical services in Israel are provided through four health insurance companies known as Sick Funds: Clalit, Maccabi, Meuhedet and Leumit. Clalit, (General Sick Fund), the largest organization and the first health insurance institution in Israel, has indicated that it will include the RosettaGX Reveal assay in its Sick Fund.
“We are particularly pleased to expand access for Reveal to Israel as this innovative assay and its underlying microRNA technology were developed here. Unlike other assays in the space, Reveal does not require fresh tissue. These simple logistics make it ideally suited for international distribution agreements like this one,” stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. “We are delighted to be partnering with Rhenium as they are known leaders in the diagnostic field in Israel. Rhenium’s knowledge of the Israeli market, along with its high quality sales teams will be very beneficial for successful market entry for Reveal and makes them an ideal partner for Rosetta. Importantly, having the largest Sick Fund cover Reveal should significantly enhance commercialization and market adoption in Israel. In addition, this agreement paves the way for us to partner other diagnostic portfolio products with Rhenium for distribution in Israel in the future.”
“We look forward to bringing Reveal to the Israeli market as many patients with indeterminate thyroid cancer undergo surgery as a precaution despite the fact that up to 80% of these cases are benign. This exposes patients to unnecessary surgical risk and costs the healthcare system millions of dollars,” stated Israeli Dror, Chief Executive Officer of Rhenium. “Reveal represents the type of innovative, best-in-class product Rhenium prides itself on supplying to patients and physicians.”
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