BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

IMPATH Inc. (IMPH) Announces Exclusive Agreement With Cell Analysis For Automated Quantitation Of IHC


10/19/2005 5:10:27 PM

NEW YORK, March 16 /PRNewswire-FirstCall/ -- IMPATH Inc. (OTC Pink Sheets: IMPHQ.PK) today announced that it has entered into an agreement with Cell Analysis under which IMPATH will provide Cell Analysis' Quantitative Cellular Assessment ("QCA") system exclusively to IMPATH's clients. IMPATH anticipates launching the QCA system in the marketplace early in the second quarter of 2004. Specific terms of the agreement were not disclosed.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010516/IMPHLOGO )

Cell Analysis' QCA system has received FDA clearance for estrogen receptor ("ER") markers in breast cancer and is expected to receive clearance for the oncoprotein, Her2/neu, later this year. In addition, the system has been designed to analyze all nuclear, membranous and cytoplasmic immunohistochemical ("IHC") markers. The QCA system objectively analyzes tumor cells for predictive and prognostic markers using quantitative image analysis of nuclear and membrane antigens enabling more precise, targeted therapeutic decision-making.

"We are delighted to be working with IMPATH, a leader in cancer diagnostics," said Joel Herm, CEO of Cell Analysis. "QCA is an important new technology that can help improve the quality of information available to pathologists, researchers and oncologists, so they can make the best decisions for their patients. We believe that QCA enhances the current standard of care in IHC evaluation. It provides physicians with an effective tool in the selection of appropriate chemotherapy on a patient-specific basis. Further, we believe the QCA system is the most affordable and easy-to-use system available."

Carter H. Eckert, Chairman and CEO of IMPATH, added, "IMPATH is dedicated to providing the latest technological innovations to our clients. Cell Analysis' QCA system and built-in quality control of IHC stained tissue slides facilitates reproducibility and rapid turnaround while removing the clinician's perceived limitation of manual inspection. We are extremely pleased to have the ability to offer this FDA-cleared technology, on a commercial basis, exclusively to our clients."

About Cell Analysis

Cell Analysis is a privately held life sciences company that develops today's most affordable, easy-to-use image analysis tools for studying cancer cells. The company's Quantitative Cellular Assessment (QCA) system is in clinical and research use to analyze cancerous tumors of the breast, colon and stomach at premier institutions nationally. QCA has received FDA clearance for estrogen receptor (ER) markers in breast cancer and is expected to receive clearance for Her2/neu later this year.

About IMPATH

IMPATH is in the business of improving outcomes for cancer patients. IMPATH Physician Services uses sophisticated technologies to provide patient-specific cancer diagnostic and prognostic services to more than 9,000 pathologists and oncologists in over 2,400 hospitals and oncology practices. Utilizing its comprehensive resources, IMPATH Predictive Oncology serves genomics, biotechnology and pharmaceutical companies involved in developing new therapeutics targeted to specific, biological characteristics of cancer.

This press release may contain statements that the Company believes are, or may be considered to be, "forward-looking statements" within the meaning of various provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements generally can be identified by use of statements that include phrases such as the Company "believes," "expects," "anticipates," "intends," "plans," "foresees" or other similar words or phrases. Similarly, statements that describe the Company's projected growth and goals and its plans for expansion also are forward-looking statements. All of these forward-looking statements are subject to certain risks and uncertainties, many of which are outside of management's control, and which could cause the Company's actual results to differ materially from those contemplated by the relevant forward-looking statement. Some of the most significant factors that could cause the actual results to differ materially from the forward-looking statements, alone or in combination, would be the results of the current investigation into accounting irregularities and discrepancies, the adverse impact on the Company's liquidity that could result from actions of the Company's senior secured lenders, the outcome of any legal proceeding or any SEC investigation relating to the Company, any adverse response of any of the Company's vendors, customers, media and others relating to the Company's financial statements and accounting processes, policies and procedures, and significant employee or management departures.

In addition to the foregoing, additional factors could be the failure to continue to successfully integrate the businesses acquired by the Company, unanticipated disagreements with the Company's joint venture or other partners, unanticipated changes in the healthcare industry (as a result of cost containment measures, changes in governmental regulation, including reimbursement programs and patient confidentiality issues, or other factors), an inability to successfully integrate the Company's new laboratory and billing system, the adverse effect of any legal proceedings involving the Company, an unanticipated failure in the commercialization of the Company's biopharmaceutical products, the ability to maintain sufficient liquidity during the Chapter 11 cases, the outcome of the Chapter 11 cases, including any sale, restructuring or reorganization efforts, or an unanticipated loss of business. In addition, the September 11, 2001 terrorist attacks and change in international political conditions as a result of these events may continue to affect the United States and the global economy and increase other risks.

Readers are urged to consider all of these factors carefully in evaluating the forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release and the Company undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Photo: http://www.newscom.com/cgi-bin/prnh/20010516/IMPHLOGOIMPATH Inc.

CONTACT: Iris D. Daniels, Vice President of Investor Relations andCorporate Communications of IMPATH Inc., +1-212-698-0300



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES