REHOVOT, Israel and JERSEY CITY, New Jersey, June 25 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. (Nasdaq: ROSG - News), announced today a collaboration with the Rabin Medical Center in Israel to develop microRNA-based diagnostics in the fields of oncology, gynecology, and obstetrics. The collaboration will leverage microRNAs' significant potential as highly sensitive and specific biomarkers, to develop a wide range of diagnostic and prognostic tests. This is the company's first collaboration to include a focus on diagnostics for women's health indications.
"MicroRNAs' unique characteristics as sensitive and specific biomarkers, coupled with our strong development engines, enable us to expand and advance our development programs outside the oncology field," said Amir Avniel, President and CEO of Rosetta Genomics. "There is true unmet medical need for better diagnostics in Women's Health, and I am confident that The Rabin Medical Center's world-renowned researchers will assist us in bringing better diagnostics to patients worldwide."
"As a leading research and clinical center at the forefront of science, we understand the importance of transforming cutting-edge technologies into next-generation products that will benefit patients worldwide," said Dr. Eyran Halpern, CEO of the Rabin Medical Center. "MicroRNAs are proving to be highly effective biomarkers for a wide range of indications. I believe that by leveraging the proprietary technologies developed by Rosetta Genomics, this collaboration will be a fruitful one."
"This collaboration is an important step towards improving women's health," said Professor Moshe Hod, Director of the Division of Maternal Fetal Medicine in the Hospital for Women at Rabin Medical Center, and Chairman of the Rosetta Genomics Medical Advisory Board. " There is true unmet need for improved diagnostics for a wide range of indications, and research is repeatedly indicating microRNAs have the potential to be used as effective biomarkers not only in oncology."
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 the Rabin Medical Center
Rabin Medical Center, comprised of Beilinson and Hasharon Hospitals, is one of the largest, foremost medical facilities in Israel. Since its founding the hospital has been distinguished for setting new standards of medical care, for pioneering breakthroughs in technology and medical expertise, while maintaining the highest principles of excellence and compassion toward patients and their families. Affiliated with the Sackler School of Medicine at Tel Aviv University, Rabin Medical Center is recognized for superior healthcare in all domains of medicine and is devoted to pursuing cutting edge research, sharing research collaboration with some of the most renowned advanced medical centers around the globe.
About Rosetta Genomics
Rosetta Genomics (Nasdaq: ROSG - News) is a leader in the field of microRNAs. 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 Company's ability to successfully develop diagnostic tests in the oncology and woman health fields, , 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 and develop 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