Genoptix Will Have Exclusive Distribution Rights in the U.S. and Non-exclusive Rights in Most Geographies Outside the U.S.
CARLSBAD, CA, PHILADELPHIA, PA and REHOVOT, ISRAEL / ACCESSWIRE / March 13, 2018 / Genoptix, Inc., a leading oncology diagnostic laboratory, and Rosetta Genomics Ltd. (NASDAQ: ROSG), a genomic diagnostics company that improves treatment decisions by providing timely and accurate diagnostic information to physicians, jointly announce that they have entered into an exclusive marketing and distribution agreement under which Genoptix will market and sell Rosetta Genomics' testing services offered out of its CLIA-certified lab based in Philadelphia, PA. Under this new agreement, Rosetta has appointed Genoptix as its exclusive distributor for these testing services in the U.S. and as non-exclusive distributor outside the U.S. in those geographies where Rosetta does not already have an exclusive distribution arrangement. Rosetta can itself still offer and sell these services both in the U.S. and outside the U.S. Under the terms of this agreement, Rosetta will pay Genoptix a percentage of the amounts received by Rosetta from those samples that are processed in Rosetta's lab and result directly from the selling efforts of Genoptix.
"We are excited to be partnering with Genoptix and to have their much larger commercial resources being leveraged against the commercial opportunities represented by our assays, especially RosettaGX RevealTM," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
"We continue to believe that the Rosetta technology and assays are of high value to physicians in helping to determine optimal treatment regimens for their patients, and we also believe that these assays are a strong addition to the Genoptix portfolio. This marketing and distribution agreement will help ensure that the Reveal test and other tests will be supported commercially, uninterrupted, through the completion of the merger, hopefully through a positive shareholder vote or via alternate scenarios as well," said Joseph M. Limber, President and Chief Executive Officer of Genoptix.
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, 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 CAP-accredited, CLIA-certified lab.
About Genoptix, Inc.
Genoptix is a leading clinical oncology laboratory specializing in hematology and solid tumors, and operates one of the largest hematopathology centers in the U.S. It provides personalized and comprehensive diagnostic services to hematologists, oncologists and pathologists, with a specialization in diagnosing cancers and disorders in bone marrow, blood and lymph nodes, as well as in solid tumor workups using molecular testing. Through an integrated approach to case management, Genoptix delivers individualized, actionable results for each patient to help the referring physician make the best treatment decision. For more information, please visit www.genoptix.com.
Notes: Genoptix is a registered trademark of Genoptix, Inc. Any other names of actual companies, organizations, entities, products or services may be the trademarks of their respective owners.
Forward-Looking Statement Disclaimer
Various statements in this release concerning the future expectations, plans and prospects of Rosetta and Genoptix 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. These forward-looking statements represent expectations of Rosetta and Genoptix as of the date of this press release. Subsequent events may cause these expectations to change, and Rosetta and Genoptix disclaim any obligation to update the forward-looking statements in the future except as may otherwise be required by the federal securities laws. Further information on potential factors that could affect actual results is included in Rosetta's reports filed with the SEC.
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SOURCE: Rosetta Genomics Ltd.