- CGI Will Be the Exclusive Provider of Molecular Diagnostic Cancer Testing for Roche Servicios in Central America and the Caribbean
- CGI Will Develop A Center of Excellence for Lung Cancer Testing Utilizing the FDA-Approved cobas® Platform
RUTHERFORD, N.J., Feb. 10, 2014 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or the "Company"), an emerging leader in DNA-based diagnostics, and Roche Servicios S.A., an affiliate of Swiss drug maker Roche, have entered into an exclusive multi-year agreement to expand molecular diagnostic cancer testing in Central America and the Caribbean.
Under the terms of the three-year contract agreement, CGI will leverage the power of Roche's FDA-approved cobas® platform as the Company seeks to become a center of excellence for oncology-focused testing in the region. Roche's cobas® technology allows for the amplification and sequencing of targeted genomic regions of interest, using mutational status to guide appropriate treatment selection.
"When we began our relationship with Cancer Genetics, we were looking for a provider that would guarantee us the quality of the test, since that directly impacts patient care and outcome. For our patients every minute is crucial and we also wanted the focus on quality to be accompanied by excellent response and turnaround times. Over the past two years of the relationship, Cancer Genetics has continually demonstrated their commitment to both our quality requirements and response time needs. These shared values with Roche are proof that they understand the importance of getting treatment and solutions to our patients. Since day one, Cancer Genetics, has been a true business partner," said Alvaro Soto, CEO of Roche Services.
Additionally, under the agreement, CGI will be the exclusive provider of molecular diagnostic cancer testing for Roche Servicios in Central America and the Caribbean. This expanded relationship covers multiple disease categories, including testing for lung cancer, breast cancer, and lymphoma. CGI first began offering such testing for Roche Servicios in late 2012.
"The multiyear contract and expansion of our relationship with Roche Servicios is testament to the quality of the molecular diagnostic services we provide, and the focus we have on meeting clinical oncology needs," stated Panna Sharma, CEO of CGI. "Our proprietary testing solutions coupled with state-of-the-art molecular testing enables Roche Servicios to deliver personalized cancer treatment for their patients throughout the region, bringing state-of-the-art biomarker-based cancer testing into the community setting where it will have the greatest impact."
CGI will initially focus on cobas®-based testing starting with the FDA-approved epidermal growth factor receptor (EGRF) mutation test, intended to help select non-small cell lung cancer patients for treatment with EGFR inhibitors. The partnership allows for expansion into other cancer categories and regions as mutually decided by CGI and Roche.
According to the American Cancer Society, there were an estimated 255,900 new cases of cancer in Central America and the Caribbean in 2008, representing more than 2% of all cases globally. Lancet Oncology, the world's leading oncology journal, reports that while the incidence rate in the region is far lower than in the U.S. and Europe, the mortality rate is substantially higher due to late diagnosis and lack of treatment access.
About Cancer Genetics:
Cancer Genetics, Inc. is an emerging leader in DNA-based cancer diagnostics, servicing some of the most prestigious medical institutions in the world. Our tests target cancers that are difficult to diagnose and predict treatment outcomes. These cancers include hematological, urogenital and HPV-associated cancers. We also offer a comprehensive range of non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals, as well as biopharma and biotech companies. Our state-of-the-art reference lab is focused entirely on maintaining clinical excellence and is both CLIA certified and CAP accredited and has licensure from several states including New York State. We have established strong research collaborations with major cancer centers such as Memorial Sloan-Kettering, The Cleveland Clinic, Mayo Clinic and the National Cancer Institute. For further information, please see www.cancergenetics.com.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. products and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Company's Form 10-Q for the quarter ended September 30, 2013 and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics disclaims any obligation to update these forward-looking statements.
CONTACT: Investor Relations Michael Rice Life Science Advisors LLC 646-597-6979 Media Relations RedChip Companies, Inc. Jon Cunningham, 800-733-2447, ext. 107 email@example.comSource:Cancer Genetics