TUSTIN, CA--(Marketwire - July 21, 2010) - Radient Pharmaceuticals Corporation (NYSE Amex: RPC), a US-based pharmaceutical company specializing in the research, development and sales of In Vitro Diagnostic (IVD) cancer tests, announced today it has entered into an exclusive distribution agreement with AMDL Australia Pty Ltd. to market and commercialize RPC's Onko-Sure™ in vitro diagnostic (IVD) cancer test in Australia and New Zealand.
Led by a strong management team of well-respected physicians and diagnostics professionals, AMDL Australia Pty Ltd. is an established, privately-owned distributor of healthcare products to laboratories, clinics, hospitals and other health care providers and research organizations throughout Australia and New Zealand. The company is the newest addition to Radient Pharmaceuticals' portfolio of international distributors and under the terms of the agreement, will market, sell and distribute at minimum 3700 Onko-Sure IVD cancer test kits for use as a monitoring test for colorectal cancer (CRC) in Australia and New Zealand. AMDL Australia also holds responsibility for developing and executing a full-scale marketing strategy to drive product awareness and engage healthcare decision makers, thought-leaders, lab directors, physicians, patients and healthcare consumers in product purchases. Targeted distribution channels will include medical centers, hospitals, clinical laboratories, university labs.
According to Douglas MacLellan, Chairman and CEO of RPC, "We are extremely pleased to further expand the commercial availability of Onko-Sure through this partnership with AMDL Australia, a leading distributor in Australia and New Zealand. AMDL Australia has a well-established and significant sales force with a successful track record in these markets where we have not yet established a full commercial sales presence for Onko-Sure. Through this partnership, Onko-Sure will be available sooner and to more patients than otherwise possible in these selected markets."
AMDL Australia's Dr Chris Dirks remarked, "Epidemiological evidence estimates there are more than 13,000 new cases of CRC in Australia annually. CRC is a leading cause of cancer death in this country and through national cancer screening programs with the use of Onko-Sure we can enable health care providers with the ability to provide early detection, treatment and more vigilant monitoring, which in turn can lead to decreased mortality rates. We are pleased to be the exclusive distributor of Onko-Sure in the Australian and New Zealand markets."
Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved in vitro diagnostic test that enables physicians and their patients to effectively monitor and/or detect certain types of cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP levels rise dramatically with the progression of cancer. The test is approved for laboratory use in Australia and follows FDA clearance for the post treatment phase monitoring of patients with CRC. The test is a standard ELISA test can be requested for patients with CRC on regular pathology request forms by their physicians.
RPC Contact Information:
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at IR@Radient-Pharma.com or 1.206.310.5323.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of our Onko-Sure™ In Vitro Diagnostic cancer test. Our focus is on the discovery, development and commercialization of unique high-value diagnostic tests that help physicians answer important clinical questions related to early disease detection; treatment strategy; and the monitoring of disease progression, prognosis, and diagnosis to ultimately improve outcomes for patients. Radient Pharmaceutical's current Onko-Sure™ cancer test is used to guide decisions regarding patient treatment, which may include decisions to refer patients to specialists, perform additional testing, or assist in the selection of therapy. To learn more about our company, people and potentially life-saving cancer test, visit www.radient-pharma.com.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.