University of North Dakota Signs License to Develop Breast Cancer Detection Technology with NeoMatrix, LLC

GRAND FORKS, N.D., Jan 09, 2012 (BUSINESS WIRE) -- The University of North Dakota (UND) and NeoMatrix, LLC announced today that they have signed an exclusive option agreement to develop an assay to aid in the early detection of breast cancer.

The HALO(R) breast test is cleared globally for physicians and is designed to help screen and assess breast cancer risk in women using cytology.

Early detection of breast cancer is widely recognized as the most effective strategy for successfully treating the disease. Both health and economic outcomes are greatly improved when breast cancer is discovered in the early stages of development. The UND technology is based on the detection of cancer biomarkers in breast nipple aspirate fluid (NAF).

"Dr. Ed Sauter, UND School of Medicine and Health Sciences professor in the Department of Surgery, renowned for his research on NAF constituents and their role in breast cancer prediction, and his team, find it rewarding to begin collaborations with our partner NeoMatrix and its scientists to help develop our technology," said Michael Moore, UND associate vice president for IP commercialization & economic development. "I want to recognize Dr. Kumi Combs in my group for her work in putting this agreement and relationship together. This option agreement sets the stage for further development of the technology. We look forward to working with NeoMatrix and sincerely hope we can be part of an important diagnostic technology and assay for the early detection of breast cancer."

Dr. Sauter said, "We identified a promising breast cancer predictive marker panel through funding from the National Institutes of Health (NIH). We needed a partner to take the next step toward practical application in development of an assay. It is exciting to partner with NeoMatrix to validate our panel, in the hopes of gaining Food and Drug Administration (FDA) approval and bringing it to clinical use."

Ms. France Dixon Helfer, President and CEO of NeoMatrix, LLC, said, "We are thrilled to be participating in this important collaborative program with the world class personnel and facilities at University of North Dakota School of Medicine. We concur with the University that this biomarker research will open new doors in the early detection of breast cancer in women."

About NeoMatrix, LLC

NeoMatrix develops solutions to promote optimal women's health, including the HALO(R) Breast Pap Test and detection assays for breast cancer.

The HALO(R) Breast Pap Test is the first fully automated noninvasive breast disease-screening device for use in physician offices. It is FDA-cleared for the collection of nipple aspirate fluid (NAF) for cytological evaluation. Like the Pap test for cervical cancer, HALO(R) looks for cellular changes years before breast cancer is detectable by mammographic imaging. To learn more about the test and locate a physician who offers it, visit neomatrix.com or call (877) HALOPAP.

About the University of North Dakota

The University of North Dakota is located in Grand Forks, a college town of 50,000 on the Red River of the North separating North Dakota and Minnesota. The campus includes 223 buildings (more than 6 million square feet under roof) on 550 acres.

The University of North Dakota is the state's most comprehensive intensive research university and the primary center for professional education and training. Since 2001, the University has received $890.6 million for sponsored programs from internal and external sources. In fiscal year 2010, UND received $143.37 million for projects in areas such as neuroscience, Unmanned Aerial Systems, vaccines, advanced electronics, nanotechnology, high-tech coatings, and alternative fuels. UND's total economic impact on the state and region is more than $1 billion a year.

Founded by the Dakota Territorial Assembly in 1883, six years before statehood in North Dakota, UND was intended to be, and has remained, a University with a strong liberal arts foundation surrounded by a variety of professional and specialized programs. UND is one of only 47 public universities in the nation with both accredited graduate schools of law and medicine. It is admired for its spacious, beautiful campus and extensive resources. The University has earned an international reputation for its academic and research programs.

UND enrolls more than 14,700 students (fall 2011) in nearly 220 fields of study from baccalaureate through doctoral and professional degrees.

CONTACTS:

NeoMatrix, LLC, 19800 MacArthur Blvd., Suite 650, Irvine, CA 92612 Contact: Dr. Tom Ritter, (949) 753-7844 ext 602, [email protected]

University of North Dakota, Division of Research, Twamley Hall, Room 100, Grand Forks, ND 58202-7095 Contact: Peter Johnson, UND Associate Vice President for University Relations [email protected] T: 701-777-6736, F: 701-777-2193, E: www.und.edu/dept/research

Forward-looking statements -- This press release may contain forward-looking statements regarding future events and the future performance of NeoMatrix that involve risks and uncertainties that could cause actual results to differ materially.

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