RUTHERFORD, N.J., Nov. 6, 2013 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq: CGIX ) ("CGI" or the "Company"), a DNA based diagnostics company focused on developing genomic-based, oncology tests and services, received a formal Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application covering a panel of probes for use in its proprietary methods for the detection and differentiation of kidney cancer.
There are 65,000 new cases of kidney cancer each year in the United States and about 13,500 related deaths. Kidney cancer is the sixth-leading cancer type in males in the United States, and its incidence rate is increasing at nearly 4% per year. There is a significant need to reduce the time to initial treatment and, at the same time, establish new non-invasive genomic methods to aid in accurate diagnosis and treatment selection.
Panna Sharma, CEO of CGI, stated, "As a pioneer in molecular diagnostics for these difficult-to-diagnose cancers, we are working to provide solutions for both patients and healthcare providers. This most recent patent award for our renal-cancer diagnostic further strengthens our position as we grow our share in this attractive market segment by delivering more value for renal cancer patients and their care providers."
The USPTO issued formal Notice of Allowance to Cancer Genetics, Inc. for its patent application entitled Panel for the Detection and Differentiation of Renal Cortical Neoplasms . The patent covers, among other things, a panel of probes that are used in CGI's proprietary methods for the detection and differentiation of kidney cancer. These methods were further validated through large studies performed in collaboration with Memorial Sloan-Kettering Cancer Center and The Cleveland Clinic. The company expects the patent to be issued and a patent number assigned within the next sixty days.
CGI's application covers a method for detecting the subtype of renal cortical neoplasm by assessing nineteen genomic biomarkers that are associated with certain subtypes of kidney cancer. Using an algorithm developed by CGI, the analysis of these genomic abnormalities allows for an accurate diagnosis of the four main types of kidney cancers representing approximately 90% of all cases, and the ability to distinguish among benign and malignant sub-types of kidney cancer.
"Development of this algorithm paves the way for accurate diagnosis of renal masses that often cannot be categorically classified by routine histology," says Dr. Jane Houldsworth, Vice President of Research and Development at CGI. "Importantly, this can be applied to biopsies obtained by less invasive procedures, to distinguish benign from malignant lesions thereby reducing unnecessary surgical procedures and associated financial burden in an older more frail population. Treatment options for renal cancer patients are highly dependent on the specific malignant subtype, thus the inclusion of such genomic markers in diagnosis and prognosis will clearly enhance the precision with which therapy can be personalized."
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. 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. In addition, the offering is subject to market and other conditions and there can be no assurance as to the estimated proceeds from the offering and the anticipated use of proceeds from the offering. 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, and maintenance of intellectual property rights and other risks discussed in the Company's Form 10-Q for the quarter ended June 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 Information: Investor Relations RedChip Companies, Inc. Jon Cunningham, 800-733-2447, ext. 107
