- Cancer Genetics, Inc. will provide comprehensive biomarker testing, genomic analysis and molecular information for clinical trials in multiple hematological cancers.
- The total value of the contracts to CGI is expected to exceed $2.5 million USD, with several trials already initiated and the remainder to start during the first quarter of 2015.
RUTHERFORD, N.J., Feb. 5, 2015 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX), an emerging leader in DNA-based cancer diagnostics, announced today that it has signed on and begun testing for clinical trials with leading biotech companies working on blood-borne cancers. The trials, which are focused on chronic lymphocytic leukemia (CLL), diffuse large B-cell lymphoma (DLBCL), and T-cell lymphomas will leverage CGI's proprietary technologies and the company's comprehensive testing and biomarker analysis capabilities.
"We look forward to providing our molecular testing for these important cancer trials which are already underway. We expect the trials to continue to scale up over the next several months and our team is proud to be delivering critical genomic data to help leading biotech companies have more effective and efficient trials," said Panna Sharma, CEO of Cancer Genetics. "With our deep expertise and proprietary technologies in hematological malignancies, CGI is well positioned to provide information for patient enrolment and stratification to biotech companies engaged in clinical trials for hematological cancers."
CGI offers proprietary NGS panels and microarray technology which aid in providing targeted genomic assessment of cancers. CGI's genomic tests and services have been selected to assess patient suitability for trials, monitor patient progress and genomic response during a trial, and measure overall response to both single-agent and combination based therapeutic trials.
"Leaders in cancer discovery and treatment are very focused on obtaining more valuable patient and genomic information from their trials and in aligning patients both with specific therapeutic compounds, and also in specific combination regiments," said Panna Sharma. "We are seeing significant interest in our unique, targeted approach to providing the necessary tools and information for precision medicine, and we expect these additional trials, closed in 2015, to add an additional 2.5 million USD to our clinical trial contracts."
Diffuse large B-cell lymphoma is the most common form of non-Hodgkin lymphoma, accounting for approximately 20,000 new cases each year. DLBCL is an aggressive disease, with two major subtypes - GCB and non-GCB (more aggressive subtype). Because disease risk varies based on subtype, accurate subtyping and prognostication is essential for DLBCL trial selection.
Chronic lymphocytic leukemia accounts for roughly one-third of all newly diagnosed cases of leukemia, with about 15,700 cases diagnosed in the US each year. Due to disease's clinical heterogeneity, risk stratification, and prognostication is especially important for patient selection in CLL trials.
Cancer Genetics, Inc. recently launched a targeted NGS-based panel for CLL, Focus::CLLTM. The panel, which assesses seven genes with clinical relevance for prognosis, disease management, and treatment selection, is CLIA-licensed and is available for use by clinicians/oncologists, as well as biopharma and biotech companies engaged in CLL focused clinical trials. The company also offers its proprietary MatBA® tests for DLBCL, CLL, follicular lymphoma (FL), and mantle cell lymphoma (MCL) as part of its comprehensive testing offerings.
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 labs are focused entirely on maintaining clinical excellence and are both CLIA certified and CAP accredited and have 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.
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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, risks of cancellation of customer contracts or discontinuance of trials, risks that the transaction will not close or, if it closes, will not realize the currently anticipated benefits, 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-K for the year ended December 31, 2013 and 10-Q for the quarter ended September 30, 2014 along with 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: Media Relations Alison Burchett Cancer Genetics, Inc. 201-528-2053 Alison.email@example.com Investor Relations Michael Rice LifeSci Advisors, LLC 646-597-6997Source:Cancer Genetics, Inc.