Rosetta Genomics and Precision Therapeutics Enter into Co-Marketing Agreement for miRview® mets(2) Assay
Leading Genomic Testing Sales Force Expands Market Reach and Access; Precision Therapeutics to Begin Marketing miRview® mets(2) in August
PHILADELPHIA and REHOVOT, Israel, July 24, 2012 /PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostic assays, announced today that it has entered into a co-marketing agreement for its miRview® mets2 assay for the accurate identification of the tumor of origin in Cancers of Unknown or Uncertain Primary ("CUP") with Precision Therapeutics Inc., a life science company known for its expertise in the science of personalizing cancer therapy by advancing genomic testing and bioinformatics.
Under the terms of the agreement, Rosetta Genomics granted Precision Therapeutics the co-exclusive right, along with Rosetta Genomics, to co-market the miRview® mets2 assay in the U.S. through July 30, 2014, with certain pre-specified performance milestones. Rosetta Genomics will continue to record all revenues for miRview® mets2 and will remain responsible for sample collection, processing and billing. Precision Therapeutics, with one of the largest sales forces in oncology diagnostics and considerable experience in the personalized medicine sector, is expected to launch its miRview® mets2 co-marketing effort in August 2012.
"Precision Therapeutics is a strong partner to help maximize the potential of miRview® mets2 in a critically important market, where accurate identification of the primary cancer directly impacts treatment decisions. With approximately 200,000 CUP patients in the U.S., we believe this co-marketing agreement will significantly enhance our reach and access to the physicians who diagnose cancer and who treat these patients, including pathologists and oncologists," said Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "This co-marketing agreement, as well as the recent Medicare decision to reimburse the miRview® mets2 assay, significantly strengthens our prospects for widespread market adoption and revenue growth."
"We are especially pleased to partner with Rosetta Genomics to enhance the commercial distribution of the miRview® mets2 assay, as it is a best-in-class CUP assay that utilizes cutting-edge microRNA expression as a platform, which we believe provides greater accuracy in identifying these difficult to diagnose tumors of unknown or uncertain origin. The data reported from external validation studies show a high level of concordance between the miRview® mets2 assay and expert diagnoses in true CUP patients demonstrating the clinical benefit of looking at microRNA," stated Sean McDonald, President and Chief Executive Officer of Precision Therapeutics.
"This collaboration with Rosetta Genomics underscores our commitment to offering high quality and high utility solutions to physicians along the entire continuum of care with the goal to improve outcomes for patients. Together with Rosetta Genomics' dedicated oncology team, we will reach out to an even larger group of healthcare providers in order to benefit patients who are diagnosed with CUP," added Mr. McDonald.
But they look at is as the initial report was on the "agreement" to do business. The "launch" of the commercially available product between the two businesses is still rather a big thing for them. So does this make the product "unavailable" previously? Got me?
I really don't like the way ROSG conducts their PR. But like you, long on the company.
I send my complaints to the company every time see something I don't understand.