PHILADELPHIA and REHOVOT, Israel, June 4, 2013 /PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces plans to expand its U.S. commercial footprint from five sales territories currently to 12 territories beginning in July 2013. In addition, the Company reports the successful launch of its new corporate and product branding at the recent American Society of Clinical Oncology Annual Meeting (ASCO 2013).
"Our Rosetta Cancer Origin Test (formerly miRview® mets²) has been trending positively for the past three months in terms of samples processed and samples billed. We continue to make progress in executing agreements with Preferred Provider Organizations (PPOs), such as our recently announced credentialing agreement with Prime Health, which now allow for this test to be adjudicated as 'in network' for more than 6.5 million patients in the U.S. Our strong presence at ASCO 2013 significantly enhanced the knowledge of and interest in our microRNA-based cancer testing services. Consequently, we believe the time is right for a strategic expansion of our sales force in order to achieve greater reach to physicians, and ultimately to ensure that our Cancer Origin Test is available to more patients," said Kenneth A. Berlin, Rosetta Genomics' President and Chief Executive Officer.
Rosetta Genomics unveiled its new corporate and product branding at ASCO 2013 through various mediums including an interactive tradeshow booth that featured a high-definition promotional video and various other promotional materials. The new branding includes an updated corporate logo with the tagline, "expanding personalized medicine," and new names and logos for Rosetta's Cancer Testing Services (formally the miRview® family of testing services), all of which were extremely well received by healthcare professionals who visited the booth.
In addition, Rosetta's Cancer Testing Services were highlighted in an "Industry Expert Theater Presentation" (IETP), during which Mr. Berlin and E. Robert Wassman, MD, FAAP, FACMG, Rosetta Genomics' Chief Medical Officer, delivered a presentation entitled, "Application of microRNAs in Oncology Diagnostics." Dr. Wassman delivered a presentation on the Cancer Origin Test. During his presentation, Dr. Wassman discussed real-world case studies of patients with Cancer of Unknown or Uncertain Primary (CUP) impacted by the test results, and reviewed data from extensive validation studies that demonstrated a high level of concordance with the predictions made by leading CUP centers.
"We are delighted with the positive reception to our IETP, and with the caliber of questions asked. We believe that through educational programs like this and our other physician outreach efforts, physicians are beginning to acknowledge the clinical value of microRNA profiling in CUP patients, and recognize that it is not a matter of whether to use such diagnostics but when to use them. In many cases a diagnosis of Cancer of Unknown Primary is no longer acceptable now that we have more precise diagnostic assays to identify the tumor of origin and, therefore, are able to make better clinical treatment decisions," said Dr. Wassman.
Mr. Berlin added, "We received very favorable feedback on our new corporate and product branding. We believe our modern new look and fresh promotional materials, as well as our highly successful IETP, made a significant contribution to the steady flow of visitors to our booth, and the subsequent sales leads recorded. The positive responses confirmed that our new corporate branding conveys who we are and what we do extremely well. In addition, visitors to our booth gave highly positive feedback relating to the new names and logos for our Cancer Testing Services, citing that they like the clear connection between our corporate brand and what the tests actually do."
About Rosetta Cancer Testing Services (formerly the miRview® product line)
Rosetta Cancer Tests are a series of microRNA-based diagnostic testing services offered by Rosetta Genomics. The Rosetta Cancer Origin Test can accurately identify the primary tumor type in primary and metastatic cancer including cancer of unknown or uncertain primary (CUP). Rosetta Mesothelioma Test diagnoses mesothelioma, a cancer connected to asbestos exposure. The Rosetta Lung Cancer Test accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. The Rosetta Kidney Cancer Test accurately classifies the four most common kidney tumors: clear cell renal cell carcinoma (RCC), papillary RCC, chromophobe RCC and oncocytoma. Rosetta's assays are designed to provide objective diagnostic data; it is the treating physician's responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the Rosetta Cancer Origin Test, 60,000 from the Rosetta Mesothelioma Test, 65,000 from the Rosetta Kidney Cancer Test and 226,000 patients from the Rosetta Lung Cancer Test. The Company's assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world. For more information, please visit www.rosettagenomics.com. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000 ext. 1309.
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics. Founded in 2000, Rosetta'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 patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta's cancer testing services are commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab. Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, the expectation that expansion of Rosetta's sales force will achieve greater reach to physicians, and ensure that the Cancer Origin Test will be available to more patients, 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 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, 2012 as filed with the SEC. 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.
Ken Berlin, President & CEO
(215) 382-9000, ext. 1326
Anne Marie Fields
SOURCE Rosetta Genomics