Receives Seventh Patent Related to Detecting Thyroid Cancer with Several Additional Patent Applications in Process
PHILADELPHIA, PA and REHOVOT, ISRAEL / ACCESSWIRE / October 17, 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 it has expanded its global patent estate related to classifying indeterminate thyroid nodules (ITN), with a new patent allowance in the United States. This is the seventh patent related to the use of microRNAs to detect thyroid cancer that has either been granted or allowed and the Company has several more patent applications in process.
The United States Patents and Trademark Office (USPTO) has granted a patent allowance for patent application US 15/586,783, a divisional application of the parent patent titled ''microRNAs and uses thereof.'' This application claims hsa-miR-138-1-3p, its complement and a sequence at least 90% identical to it, as well as a probe and a vector comprising this microRNA.
''We remain committed to expanding our patent estate in the area of thyroid cancer detection. Our lead product, RosettaGX Reveal® (Reveal), continues to make inroads in the $350 million thyroid cancer detection market segment in the U.S.,'' noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
''Our recently implemented strategy to focus our resources on the sales and marketing of Reveal in the largely untapped U.S. ITN market continues. This patent allows for additional patent monetization opportunities and solidifies our leadership position in microRNA biomarker technology,'' added Mr. Berlin.
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 classifying indeterminate 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 our belief that this patent may have value to third parties 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.
Various statements in this release concerning Rosetta's future expectations, plans and prospects 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 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:
Ken Berlin, President & CEO LHA
(267) 298-1159
[email protected]
Rosetta Genomics Investor Contact:
Anne Marie Fields
(212) 838-3777
[email protected]
SOURCE: Rosetta Genomics Ltd.