Rosetta Genomics Expands International Access for RosettaGX Reveal(TM) through Agreement with Cytolog Laboratories in Brazil

PHILADELPHIA, PA and REHOVOT, ISRAEL / ACCESSWIRE / May 5, 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 the Company has signed an exclusive distribution agreement with Cytolog Laboratories (Cytolog) for the sales and marketing of RosettaGX RevealTM (Reveal), a first-of-its-kind microRNA assay for the classification of indeterminate thyroid nodules, in Brazil.

Cytolog is a Brazilian-based diagnostics laboratory that specializes in fine needle aspiration examinations. Cytolog already has the regulatory approvals to send biological samples outside of Brazil and expects to begin utilizing RosettaGX Reveal effective immediately.

"We are delighted to partner with Rosetta Genomics to bring RosettaGX Reveal to patients in Brazil who have an indeterminate thyroid cancer diagnosis. In addition to its excellent performance, Reveal has a significant advantage to current assays on the market because it can work off the same cytology slides that were created to perform the initial diagnosis, thus eliminating the risks, added patient stress, and unnecessary pain associated with additional fine needle passes," stated Fabiano Callegari, M.D., pathologist and principal of Cytolog.

"We look forward to bringing Reveal to the Brazilian 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," added Dr. Callegari.

According to Surveillance, Epidemiology & End Results (SEER), a U.S. National Cancer Institute program that collects incidence and survival data from cancer registries, the incidence of thyroid cancer has tripled in the past 35 years. In Brazil, the National Cancer Institute (INCA) estimated 9,200 new cases in 2014, 8,050 of them in women. This is largely the result of improved diagnosis due to the increased use of ultrasound scanning.

"We are particularly pleased to expand access for Reveal to the Brazilian market where the incidence of thyroid cancer diagnosis is growing," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "Unlike other assays in the space, Reveal does not require fresh tissue and therefore does not require special logistics for sample handling and shipment. These simple logistics make it ideally suited for international distribution agreements like this one. We look forward to working with Cytolog, a premier laboratory with a reputation as a leader in the field of fine needle aspirates. This is our first distribution agreement in South America and it marks a significant milestone in our strategic goal to expand global access for Reveal."

About Cytolog Laboratories

Cytolog is a Brazilian-based laboratory that specializes in fine needle aspiration examinations, which today is a reference in precise diagnoses, equaled to the best medical centers in the world and certified by the Brazilian Societies of Pathology and Cytopathology. The evolution of medicine has been generous to patients, not only for seeking healing for their illnesses but also for providing an early diagnosis. Proof of this is the fine needle aspiration examination, which can replace the surgical biopsy, making the procedure quick, simple and well accepted by patients. This examination consists of the cytological analysis of thyroid nodules, salivary glands, breast, and lymph nodes, among other lesions. Cytolog has very strong human values and therefore offers personalized accompaniment to all its patients, providing much more comfort and well-being.

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 the diagnosis of cancer in 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 bringing Reveal to the Brazilian market and expanding global access 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; 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.

Rosetta Genomics Contact:

Ken Berlin, President & CEO
(267) 298-1159
investors@rosettagx.com

Rosetta Genomics Investor Contact:

LHA
Anne Marie Fields
(212) 838-3777
afields@lhai.com

SOURCE: Rosetta Genomics Ltd.

ReleaseID: 461978

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.