PRINCETON, N.J. & REHOVOT, Israel--(BUSINESS WIRE)--Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces that the Company has entered into a co-promotional commercial partnership with Precipio Diagnostics (“Precipio”) for the sales and marketing of Precipio’s oncology tests, which include bone marrow and peripheral blood testing for hematological malignancies, such as leukemias and lymphomas. These products are being promoted by Rosetta in California, Connecticut, New Jersey, Oklahoma, Texas, Virginia and Washington, D.C., with an expectation to expand nationally over time.
Precipio Diagnostics is the only cancer diagnostics company to successfully combine the experience, knowledge and expertise of academic-level pathology from the Yale School of Medicine with commercial-level service. Oncologists around the world benefit from direct access to the highest quality of diagnostic support, coupled with rapid and efficient service.
“We are very pleased to partner with Precipio and to include their value-added tests to our growing product portfolio as we are confident our commercial team can effectively market Precipio’s cutting edge oncology diagnostics services. Moreover, the collaboration with the Yale Department of Pathology offers a significant advantage as it is home to some of the world’s experts in pathology. Their credibility, combined with the confidence oncologists have with world-class academic pathologists reading their cases cannot be understated,” noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
“Both Rosetta and Precipio have outstanding products that serve the same customers. Joining forces to offer these services through this partnership strengthens both companies’ value proposition, and improves the quality and level of services that our customers receive,” said Ilan Danieli, Chief Executive Officer of Precipio Diagnostics. “We look forward to continuing to build the relationship with Rosetta.”
“This partnership is also expected to enhance awareness of and demand for the Rosetta Cancer Origin Test™. We will promote the Precipio diagnostic services to the same doctors who also struggle with patients without a definitive diagnosis as to their cancers’ origin, which hampers decisions regarding optimal therapeutic approach. Our Cancer Origin Test offers a molecular solution to help classify these patients and to help guide optimal treatment decisions. In addition, this partnership with Precipio along with our Admera collaboration allows us to provide more complete solutions for our customers and to optimize our commercial infrastructure,” added Mr. Berlin.
About Precipio Diagnostics
Precipio Diagnostics is harnessing the intellect, expertise and technology developed within academia, to deliver quality diagnostic information to physicians and patients worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment, and its experience delivering quality service, Precipio Diagnostics offers a new standard of support and the highest level of care to patients.
About Rosetta Cancer Testing Services
Rosetta Cancer Tests are a series of microRNA-based diagnostic testing services offered by Rosetta Genomics. The Cancer Origin Test can accurately identify the primary tumor type in primary and metastatic cancer including cancer of unknown or uncertain primary (CUP). The Rosetta Lung Cancer Test™ accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. The Rosetta Kidney Cancer Test™ accurately classifies the four most common kidney tumors: clear cell renal cell carcinoma (RCC), papillary RCC, chromophobe RCC and oncocytoma. Rosetta’s assays are designed to provide objective diagnostic data; it is the treating physician’s responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the Rosetta Cancer Origin Test™, 65,000 from the Rosetta Kidney Cancer Test™ and 226,000 patients from the Rosetta Lung Cancer Test™. The Company’s assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world. For more information, please visit www.rosettagenomics.com. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000.
About Rosetta Genomics
Founded in 2000, Rosetta’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 patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools and therapeutics. Rosetta currently commercializes a full range of microRNA-based molecular diagnostics. Rosetta’s cancer testing services are commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab. For more information, please visit www.rosettagenomics.com.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including without limitation, statements that Rosetta’s commercial team can effectively market Precipio’s cutting edge oncology diagnostics services, that the partnership with Precipio is expected to enhance awareness of and demand for Rosetta’s Cancer Origin Test and that the collaborations with Precipio and Admera will allow Rosetta to provide more complete solutions for our customers and to optimize its commercial infrastructure, 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 Annual Report on Form 20-F for the year ended December 31, 2013 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.