LOS ANGELES, April 21, 2014 (GLOBE NEWSWIRE) -- Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help determine a patient's response to cancer therapy, today announced execution of an exclusive commercial agreement with the Knight Diagnostic Laboratories at Oregon Health & Science University (OHSU) for a proprietary next generation sequencing panel for lung cancer. The panel provides full gene sequencing of the actionable genes for lung cancer rather than detection only of so-called hot spots.
The collaboration will leverage Response Genetics' national sales force and the Company expects to begin marketing the proprietary panel immediately. With the addition of the OHSU next-generation sequencing panel for lung cancer, Response Genetics now offers oncologists and patients analyses of actionable genetic markers across six different tumor types and four different testing modalities. All of these tests will leverage Response Genetics' state-of-the-art reporting that gives physicians easy to understand actionable information for patients.
"We are excited to announce this strategic relationship with the Knight Diagnostic Laboratories as it marks the entry of Response Genetics into next-generation sequencing," said Thomas A. Bologna, Chairman and CEO of Response Genetics. "We believe Knight Diagnostic Laboratories' next-gen sequencing lung cancer panel represents the best in class and will further strengthen our unique Academic Profile for lung. The two together make for a differentiated product offering that includes gene mutation, amplification and translocation data as well as RNA expression-based data. We believe the use of multiple technology platforms enables us to provide truly comprehensive, actionable information for cancer therapy selection. Moreover, our approach offers physicians a choice of options so that they can optimize turnaround time, cost and other considerations on a patient-by-patient basis, rather than accepting a singular methodology or a 'one size fits all' test. The addition of next generation sequencing to our portfolio further illustrates our patient-centric commitment to therapy selection based on the unique molecular characteristics of each patient's tumor."
"The collaboration with Response Genetics allows the Knight Diagnostic Laboratories an opportunity to offer our next-gen lung panel nationwide," said Christopher Corless, M.D., Ph.D., Professor of Pathology and Chief Medical Officer of the Knight Diagnostic Laboratories, which are part of OHSU's Knight Cancer Institute. "With the reach of Response Genetics' commercial operation, we can maximize patient access to a thoughtfully curated panel of actionable markers. The selection of Knight Cancer Institute by Response Genetics, one of the leading commercial reference laboratories in the molecular diagnostic space, validates the years of effort that we put into the development of our innovative offering. Together we can deliver significant clinical value with a very favorable cost profile."
About The Knight Diagnostic Laboratories
The Knight Diagnostic Laboratories, which are part of the Knight Cancer Institute at Oregon Health & Science University, provide industry-leading methodologies for diagnosing cancer, rare genetic disorders and infectious diseases. The laboratories, which are CLIA certified and CAP accredited, combine more than 20 years of academic laboratory experience in pathology and genetics with industry-trained management to deliver advanced diagnostic testing that makes personalized medicine a reality. Please visit www.knightdxlabs.com for more information.
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. The Company's technologies enable extraction and analysis of genetic information derived from tumor cells stored as formalin-fixed and paraffin-embedded specimens. The Company's principal customers include oncologists and pathologists. In addition to diagnostic testing services, the Company generates revenue from the sale of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company's headquarters is located in Los Angeles, California. For more information, please visit www.responsegenetics.com.
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and the statements of representatives of the Company related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions, such as the ability of the Company, to provide clinical testing services to the medical community, to continue to strengthen and expand its sales force, to continue to build its digital pathology initiative, to attract and retain qualified management, to continue to strengthen marketing capabilities, to expand the suite of ResponseDX® products, to continue to provide clinical trial support to pharmaceutical clients, to enter into new collaborations with pharmaceutical clients, to enter into areas of companion diagnostics, to continue to execute on its business strategy and operations, to continue to analyze cancer samples and the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, and other statements identified by words such as "project," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan" or similar expressions.
These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
Investor Relations Contact: Peter Rahmer Trout Group 646-378-2973 Company Contact: Thomas A. Bologna Chairman & Chief Executive Officer 323-224-3900
