OPKO Health, Inc. (NYSE:OPK) has entered into a definitive

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Oct 19, 2012 at 1:56 PM

OPKO Health, Inc. (NYSE:OPK) has entered into a definitive agreement to acquire Prost-Data, Inc., doing business as OURLab, a Nashville-based CLIA laboratory with 18 phlebotomy sites throughout the U.S. and an experienced national sales force calling primarily on urologists.

OURLab provides OPKO with a commercial platform to support the near-term U.S. commercial launch of its novel panel of kallikrein biomarkers and associated algorithm (4Kscore™) for the detection of prostate cancer. The OPKO 4Kscore™ is the result of a decade of research by scientists in Europe and the U.S. and has been demonstrated in more than 10,000 patients to predict the probability of positive biopsies in men suspected of having prostate cancer. Extensive studies have shown that the use of the 4Kscore™ may reduce the number of unnecessary prostate biopsies by 50% or more, avoiding the frequent complications of pain, bleeding, and infection, which sometimes require hospitalization. The data indicate that even with the significant reduction in the number of biopsies performed, the probability of delaying diagnosis of a high grade cancer was only 0.6%. Men whose 4Kscore™ is low enough to not lead to biopsies would be followed with active surveillance by the urologist.

Benefitting from its close proximity to an important U.S. airport hub, OURLab has been able to provide exceptional customer service through the efficient delivery of timely and trusted laboratory results, typically providing test results within 24 hours of a sample being taken. OURLab combines professional expertise with cutting edge technology to enable physicians to deliver superior patient care.

“The addition of OURLab to the OPKO family will support the early launch of the important 4Kscore™ prostate test as a laboratory-developed test in the U.S. and complements the Company’s recent European commercial launch of the 4Kscore™ through its UK-based partner, International Health Technology, as part of its ProstateCheck™ early prostate cancer detection service,” said Phillip Frost, M.D., Chairman and CEO of OPKO Health. “OURLab’s keen focus on exceptional customer service with its experienced operational team will accelerate the launch of our novel prostate test while helping clinicians in their overall diagnosis of prostate cancer. The OURLab structure will also be helpful in speeding the development and introduction of other important tests, including newly discovered antibody-based tests which utilize OPKO’s unique peptoid technology.”

Upon the completion of the OURLab acquisition, Dr. Jonathan Oppenheimer, OURLab’s founder and Chief Executive Officer, will assume the role of Chief Executive Officer of OPKO’s diagnostics division. “OURLab anticipates that OPKO’s superior resources and novel technologies will facilitate greater penetration into other medical subspecialties and give its sales force unique products to serve its growing physician and laboratory clientele. The 4Kscore™ is a prime example of a timely medical test satisfying a clear unmet need,” commented Dr. Oppenheimer.

About OPKO Health, Inc.

OPKO is a multinational biopharmaceutical and diagnostics company that seeks to establish industry leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies.

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