Response Genetics, Inc. Expands Distribution Of ResponseDX® Product Portfolio Into International Markets
LOS ANGELES, May 14, 2014 (GLOBE NEWSWIRE) -- Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help guide cancer therapy selection, today announced execution of a commercial agreement with DxM Diagnostico Molecular ("DIFRA"), a leading distributor for cancer testing in Mexico, to offer the ResponseDX testing services to patients throughout Mexico.
The agreement covers the ResponseDX: Tissue of Origin(TM) test as well as the other targeted molecular tests in the Response Genetics portfolio. The ResponseDX: Tissue of Origin(TM) test is an FDA-cleared test that uses gene expression analysis to provide a definitive diagnosis for poorly-differentiated or metastatic cancers without a clear primary origin. The test was acquired by Response Genetics in August 2013 and re-introduced to the market in February 2014.
Cancer is currently the second leading cause of death in Mexico, with approximately 125,000 new cases each year and projections for doubling to 250,000 new cases per year by 2030.1 DIFRA will market the ResponseDX portfolio through presentations to hospitals and physician practices including presenting the ResponseDX: Tissue of Origin(TM) test to oncologists, physicians and key opinion leaders at the June 2014 Best of ASCO meeting in Mexico City.
"We believe the ResponseDX(R) offerings, including our new and recently introduced proprietary Tissue of Origin test provides differentiated content to effectively pursue international market opportunities" said Thomas Bologna, Chairman and Chief Executive Officer of Response Genetics. "One of our initiatives is to increase access to our testing services both domestically and internationally. DIFRA will facilitate access to the full complement of our portfolio to Mexican oncologists and pathologists. We believe our extensive molecularly-focused solid tumor menu coupled with high service levels and market-leading innovation will provide Mexico's cancer community with optimal options for the therapy-selection decision-making tools they seek."
The new agreement is the first in Central America for Response Genetics, as the company continues to expand its testing services including profiles for lung, colon, gastric, breast, and thyroid cancers and melanoma into international markets. The company is pursuing distribution agreements in Asia, Europe and the Middle East.
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. The Company's technologies enable extraction and analysis of genetic information derived from tumor cells stored as formalin-fixed and paraffin-embedded specimens. The Company's principal customers include oncologists and pathologists. In addition to diagnostic testing services, the Company generates revenue from the sale of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company's headquarters is located in Los Angeles, California. For more information, please visit www.responsegenetics.com.
1. http://globocan.iarc.fr/Pages/Map.aspx
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and the statements of representatives of the Company related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions, such as the ability of the Company, to provide clinical testing services to the medical community, to continue to strengthen and expand its sales force, to continue to build its digital pathology initiative, to attract and retain qualified management, to continue to strengthen marketing capabilities, to expand the suite of ResponseDX(R) products, to continue to provide the ResponseDX: Tissue of Origin(TM) test, to continue to provide clinical trial support to pharmaceutical clients, to enter into new collaborations with pharmaceutical clients, to enter into areas of companion diagnostics, to continue to execute on its business strategy and operations, to continue to analyze cancer samples and the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, and other statements identified by words such as "project," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan" or similar expressions.
These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
CONTACT: Investor Relations Contact:
Peter Rahmer
Trout Group
646-378-2973
Company Contact:
Thomas A. Bologna
Chairman & Chief Executive Officer
323-224-3900
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