REHOVOT, Israel and JERSEY CITY, New Jersey, April 14 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. (Nasdaq:ROSG), a leader in the development of microRNA-based diagnostic and therapeutic products, announced today it has signed an agreement with University of California, Irvine School of Medicine (UC Irvine), relating to the development and validation of diagnostic tests based on the company's microRNA technology. The tests are designed to differentiate squamous versus non-squamous lung cancer, differentiate mesothelioma from adenocarcinoma, and identify cancers of unknown primary (CUP) origin.
"This agreement is key to the successful implementation of our business strategy for our diagnostic products," noted Amir Avniel, President and CEO of Rosetta Genomics. "With its experienced research team and state-of-the-art CLIA-certified laboratory, UC Irvine is an excellent collaborator for tests developed applying our microRNA technology."
"We believe this agreement is an important step towards bringing microRNA-based diagnostics to patients and physicians," said Dr. John Krolewski, from UC Irvine. "There is a large body of research into the significant potential microRNAs hold as powerful biomarkers, and we are excited to develop and validate assays using Rosetta Genomics' microRNA technology."
MicroRNAs (miRNAs) are recently discovered, naturally occurring, small RNAs that act as master regulators and have the potential to form the basis for a new class of diagnostics and therapeutics. Since many diseases are caused by the abnormal activity of proteins, the ability to selectively regulate protein activity through microRNAs could provide the means to treat a wide range of human diseases. In addition, microRNAs have been shown to have different expression in various pathological conditions. As a result, these differences may provide for a novel diagnostic strategy for many diseases.
About University of California, Irvine School of Medicine
The University of California, Irvine is a top-ranked university dedicated to research, scholarship and community service. Founded in 1965, UCI is among the fastest-growing University of California campuses, with more than 27,000 undergraduate and graduate students and about 1,800 faculty members. The School of Medicine is among the top 50 in the nation for research funding expenditures and is home to one Nobel Prize winner, four members of the Institute of Medicine and five National Academy of Sciences members. Current faculty oversee the education and training of more than 400 medical students, 600 residents and 120 graduate students.
About Rosetta Genomics
Rosetta Genomics (Nasdaq: ROSG) is a leader in the field of microRNA. Founded in 2000, the company's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs . Building on its strong IP position and proprietary platform technologies, Rosetta Genomics is working on the application of these technologies in the development of a full range of microRNA-based diagnostic and therapeutic tools, focusing primarily on cancer and various women's health indications. The company expects that the first microRNA diagnostic tests applying its technology will be launched by licensed clinical laboratories in the United States in 2008.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the role of microRNAs in human physiology and disease, the potential of microRNAs in the diagnosis and treatment of disease and the expected timing of submission for approval and launch of diagnostic tests using our microRNA technology constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: Rosetta's approach to discover microRNA technology and to work on the application of this technology in the development of novel diagnostics and therapeutic tools, which is unproven and may never lead to marketable products or services; Rosetta's ability to fund and the results of further pre-clinical and clinical trials; Rosetta's ability to obtain, maintain and protect the intellectual property utilized by Rosetta's products; Rosetta's ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta's ability to obtain additional funding to support its business activities; Rosetta's dependence on third parties for development, manufacture, marketing, sales, and distribution of products; Rosetta's ability to successfully develop its candidate tools, products and services, all of which are in early stages of development; Rosetta's ability to obtain regulatory clearances or approvals that may be required for its products and services; the ability to obtain coverage and adequate payment from health insurers for the products and services comprising Rosetta's technology; competition from others using technology similar to Rosetta's and others developing products for similar uses; Rosetta's dependence on collaborators; and Rosetta's short operating history; as well as those risks more fully discussed in the "Risk Factors" section of Rosetta's Annual Report on Form 20-F for the year ended December 31, 2006 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.
SOURCE Rosetta Genomics Ltd