Rosetta Genomics (ROSG) Enters into Services Agreement with Unnamed Global Pharmaceutical Company

August 24, 2016 9:03 AM EDT
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Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based and other molecular diagnostics, today announces that the Company has entered into a services agreement with an unnamed global pharmaceutical company to provide Fluorescence in Situ Hybridization (FISH) testing services for a clinical study the pharmaceutical company is conducting in prostate cancer.

The study will use FISH to determine the phosphatase and tensin homolog (PTEN) gene status of a number of prostate adenocarcinoma cases. The concordance of the FISH results will be assessed for cases where PTEN status was previously established by immunohistochemistry (IHC). The primary goal of the study is to determine if PTEN by FISH detects cancers that IHC did not.

“We are very pleased to have our FISH testing selected by this global pharmaceutical for their clinical testing study. The quality, reliability and turn-around time of our best-in-class FISH testing enabled us to win this important business. It has also allowed us to gain business from a number of sizeable customers who were not happy with the quality and reliability of FISH test offerings of certain larger competitors. For example, we won the business of one large statewide health care provider after we succeeded in providing correct diagnoses on a number of samples that a large competitor was unable to achieve. In addition, we also took a large state university hospital’s HEME FISH business from another competitor based on our FISH tests’ high quality, reliability and timeliness,” stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.

The FISH service offered by RosettaGX is best-in-class, with a highly competitive success rate in obtaining informative results in 98% of cases, and a turnaround time of 3 to 4 days. Rosetta’s FISH technology is used for the early detection of genomic changes, which may detect cancer, measure the potential aggressiveness of the disease, and identify if patients are likely to respond to specific targeted therapies

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