BioLight announces Micromedic identifies new genetic markers to predict risk of developing BRONJ, a devastating side effect of certain cancer drugs
-Files patents on markers-
PR Newswire
TEL AVIV, Israel, May 27, 2014
TEL AVIV, Israel , May 27, 2014 /PRNewswire/ -- BioLight Life Sciences Investments Ltd. (OTC: BLGTY, TASE: BOLT) , a firm that invests in, manages and commercializes biomedical innovations grouped into clusters around defined medical conditions, announced today that Micromedic Technologies (TASE: MCTC) , BioLight's cancer diagnostic cluster company, has identified several new genetic markers with high potential to predict necrosis of the jawbone in multiple myeloma patients treated with bisphosphonate drugs. Upon confirmation of the findings, Micromedic plans to develop a diagnostic assay for use with multiple myeloma and perhaps other patients.
These findings are based upon a trial conducted at the Tel Hashomer Medical Center, Israel designed to identify the unique genetic profile that enables the assessment of risk among cancer patients to develop the devastating side effect known as bisphosphonate-related osteonecrosis of the jaw, or BRONJ, and to serve as the basis for developing a novel diagnostic assay.
Pending confirmation of the findings the assay may be expanded to include identifying risk in patients with breast cancer, patients with other types of cancers and patients with osteoporosis.
Based on these discoveries, Micromedic has filed three new patent applications covering the newly discovered markers and is preparing to conduct testing on an independent sample of specimens to validate these findings.
Micromedic believes that confirmation of the results may advance the company toward obtaining marketing approval for a diagnostic assay in multiple myeloma and toward entering into initial negotiations for the continued development and commercialization of a companion diagnostic kit with companies marketing drugs in the bisphosphonate family. In response to the growing base of literature on this association, in 2005 the U.S. Food and Drug Administration issued a broad drug class warning of this complication for bisphosphonates.
Suzana Nahum-Zilberberg , BioLight's chief executive officer, said, "To our knowledge there is no effective method on the market to identify the population at risk of developing the BRONJ side effect. We believe the identification of these markers advances Micromedic toward producing a first diagnostic assay for detecting the genetic profile that suggests increased risk in cancer patients and others in developing this serious side effect, and may serve as an important tool in diagnosing the large population of prospective recipients of bisphosphonate drugs prior to beginning such treatment. Given the U.S. FDA's warning on these drugs, we believe there will be an extremely receptive market for a test assay."
About BRONJ
The BRONJ side effect appears in cancer patients who receive intravenous therapy (approximately 500,000 patients each year) with a prevalence rate of up to 18.6% among multiple myeloma patients, 1.2%-12% among breast cancer patients, 6.5%-7% among prostate cancer patients and up to 0.1% among osteoporosis patients who receive orally administered treatment (approximately 200 million patients worldwide).
About Multiple Myeloma
Multiple myeloma, also known as bone marrow cancer, is a fatal disease impairing the plasma cells within the bone marrow. The disease harms the bones directly via myeloma cells, and indirectly due to the effects of the tumor on other body organs.
About Micromedic
Micromedic (TASE: MCTC), a subsidiary of BioLight, engages in the investment, management and promotion of products for the early detection of cancers and to match personal treatment to the patient. Micromedic's investment model is designed to create synergies between its technologies, enabling tackling the problem from different viewpoints, expanding exposure to new ideas and approaches, exploiting economies of scale, reducing time to market and increasing shareholder value. Micromedic has extensive collaborations with commercial companies and research institutions worldwide.
For further information please visit www.m-medic.com .
About BioLight
BioLight Life Sciences Investments invests in, manages and commercializes biomedical innovations grouped into "clusters" around defined medical conditions. Its two current clusters are in ophthalmology via 100% ownership of XLVision Sciences and in cancer diagnostics via a 29% controlling ownership of Micromedic (TASE: MCTC). XLVision technologies include IOPtiMate™, a laser-based noninvasive surgical treatment for glaucoma; TeaRx, a point-of-care dry-eye syndrome diagnostic test; and Eye-D™, a long-term controlled release drug-delivery implant platform. Micromedic diagnostic tests are designed to detect colorectal, cervical, breast, bladder, lung and other cancers. Leading key investors, holding about 45% of BioLight's shares, are Mr. Israel Makov , Chairman of Sun Pharmaceuticals, former CEO and President of Teva Pharmaceuticals and former Chairman of Given Imaging, Mr. Dilip Shanghvi , founder of Sun Pharmaceuticals, India's largest pharmaceutical company, and Mr. Dan Oren , founder and CEO of Dexcel Pharma, the second-largest pharmaceutical manufacturer in Israel .
For more information please visit the Company's website at www.bio-light.co.il .
CONTACTS:
BioLight
Itai Bar-Natan , CFO ( itai@bio-light.co.il )
Tel: 972-73-2753400
LHA
Kim Sutton Golodetz ( kgolodetz@lhai.com )
(212) 838-3777
Or
Bruce Voss ( bvoss@lhai.com )
(310) 691-7100
SOURCE BioLight
