Rosetta Genomics Selects PCR as Platform for its MicroRNA-Based Diagnostics to be Launched in 2008
Dec 11, 2007
Rehovot, Israel; North Brunswick, New Jersey (December 11, 2007) – Rosetta Genomics, Ltd. (NASDQ: ROSG) announced today it has selected the technological platform for its line of microRNA-based diagnostic products, the first of which are expected to launch in 2008. The company has licensed the MGB Eclipse™ Probe technology from Nanogen, Inc. (NASDAQ: NGEN). The licensing deal will allow Rosetta Genomics to combine the technical performance advantages of Nanogen’s MGB Eclipse™ probe technology with the Company’s own proprietary microRNA biomarkers to create a line of quantitative real-time PCR diagnostic tests.
Leveraging microRNAs’ strong tissue specificity and involvement in the regulation of a large number of human genes, Rosetta Genomics has identified specific microRNA signatures that it believes will allow for accurate diagnosis of various cancers.
The Company expects the following three tests to launch in 2008:
- Differentiating squamous from non squamous lung cancer – As current targeted therapy for lung cancer can cause hemorrhaging in squamous cell lung cancer patients, differentiating between the cancer types is critical. Rosetta Genomics has identified several microRNA biomarkers that may allow for sensitive and specific identification of squamous cell carcinoma. The company estimates the potential market for this test is approximately 60,000 lung cancer patients in the US alone, who are potential candidates for targeted therapy.
- Differentiating mesothelioma from lung adenocarcinoma – Rosetta Genomics has identified a panel of microRNA biomarkers potentially allowing for differentiation between these cancer types. The company estimates the market potential for this test is approximately 60,000 patients per year, in the US alone.
- Cancer of Unknown Primary (CUP) – This test is designed to assist clinicians to accurately identify the origin of metastases. In 3%-5% of all cancer patients, clinicians cannot identify the origin of a patients’ tumor. This information is crucial for determining treatment type. Rosetta Genomics has developed a panel of microRNA biomarkers potentially able to identify approximately thirty cancers. The company estimates approximately 70,000 people each year are diagnosed as having CUP.
“Our proprietary microRNA detection and quantitation technologies are at the heart of our sensitive diagnostic products,” noted Amir Avniel, President and CEO of Rosetta Genomics.” Using very small amounts of tissue samples or body fluids, we are able to detect microRNAs on the order of single molecules, as well as differentiate microRNAs with only a single nucleotide mismatch. This Licensing agreement is another step towards making our first diagnostic products available for clinical use in 2008.”
Following the company’s decision to use the PCR platform for its diagnostic products, Rosetta Genomics has decided to terminate the agreement signed with US Genomics for using their Trilogy™ platform.
About Rosetta Genomics
Rosetta Genomics (Nasdaq: ROSG) is a leader in the development of microRNA-based diagnostics and therapeutics. Founded in 2000, the company’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong IP position and strategic alliances with leading biotechnology companies, Rosetta Genomics is working to develop a full range of diagnostic and therapeutic products based on microRNAs.
The company’s primary focus is in the development of microRNA-based products to diagnose and treat different forms of cancer.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including without limitation, statements relating to the role of microRNAs in human physiology and disease, the potential of microRNAs in the diagnosis and treatment of disease, and the timing of launch of Rosetta’s first diagnostic products 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 risks related to: Rosetta’s approach to discover and develop novel diagnostics and therapeutic products, which is unproven and may never lead to marketable products; Rosetta’s ability to fund and the results of further pre-clinical and clinical trials; Rosetta’s ability to obtain, maintain and protect the intellectual property utilized by Rosetta’s products; Rosetta’s ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta’s ability to obtain additional funding to support its business activities; Rosetta’s dependence on third parties for development, manufacture, marketing, sales, and distribution of products; Rosetta’s ability to successfully develop its product candidates, all of which are in early stages of development; Rosetta’s ability to obtain regulatory approval for products; competition from others using technology similar to Rosetta’s and others developing products for similar uses; Rosetta’s dependence on collaborators; and Rosetta’s short operating history; as well as those risks more fully discussed in the "Risk Factors" section of Rosetta’s Annual Report on Form 20-F for the year ended December 31, 2006 as filed with the Securities and Exchange Commission. 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
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