QUEBEC CITY, Oct. 3 /PRNewswire-FirstCall/ - DiagnoCure Inc. , a leading developer and provider of high-value cell-based assays and molecular diagnostics for the early detection of cancer, has acquired specific rights and commissioned further research on new genes which show promise as prostate cancer markers.
The agreement, signed with Radboud University Medical Center, Nijmegen, the Netherlands, covers technology rights related to Dr. Jack Schalken’s discoveries of the role of FOX gene expression in prostate cancer and commissions further research into the diagnostic, prognostic and therapeutic potential of those genes. “We have sufficient evidence to indicate that specific FOX genes may further enhance the diagnostic efficacy of the PCA3 gene which in itself reflects a dramatic improvement over PSA testing,” Dr. Schalken said.
John Schafer, President and Chief Executive Officer of DiagnoCure said “This agreement indicates our determination to maintain our position as leaders in prostate cancer diagnostics and our commitment to staying on the leading edge of molecular diagnostics for the early detection of cancer.”
“The newly identified role of specific FOX genes is an exciting opportunity to improve specificity of PCA3 tests for prostate cancer,” Dr. Timothy Holzer, Vice President of Research and Development said.
Dr. Schalken’s laboratory first discovered that the PCA3 gene was specific to prostate cancer. After acquiring the worldwide diagnostic, prognostic and therapeutic rights to PCA3, DiagnoCure licensed the global diagnostic rights to Gen-Probe Inc. in 2003. Their subsequent PCA3 test for prostate cancer is currently available on the U.S. market in an analyte specific reagent (ASR) format. European CE Marked commercialization of Gen-Probe’s PCA3 test is scheduled for late 2006.
Prostate cancer is the most frequent cancer in men. More than 234,460 new cases are diagnosed annually in the United States alone. An estimated 27,350 deaths annually are caused by prostate cancer making it the second leading cause of cancer deaths in men, surpassed only by lung cancer. The American Cancer Society recommends annual testing for prostate cancer in all men over 50 years of age and for all men over 40 who are either at high risk through family history or who are African Americans.
About DiagnoCure
DiagnoCure specializes in the development, production and commercialization of diagnostic tests for the early detection of cancers. DiagnoCure’s first product, ImmunoCyt(TM) /uCyt+(TM), is an important tool for the diagnosis and monitoring of bladder cancer. In addition to its leading edge work in prostate cancer diagnosis, DiagnoCure, is now exploring additional applications for the early detection of lung cancer. For more information, go to www.diagnocure.com.
Forward-looking statements
This release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. By their very nature, forward-looking statements are based on expectations and hypothesis and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure’s control. As a result, investors are cautioned not to place undue reliance on these forward- looking statements. The forward-looking statements regarding the outcome of research and development projects and future revenues are based on management expectations. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure’s most recent Annual Information Form under heading “Risk Factors”. DiagnoCure undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
DIAGNOCURE INC.
CONTACT: Thom Skinner, Chief Financial Officer, DiagnoCure Inc., (418)527-6100, (888) 900-6626, communications@diagnocure.com
