NEW YORK, May 12 /PRNewswire-FirstCall/ -- Xenomics, Inc. , a developer of next-generation medical DNA diagnostic technologies, announced today that a clinical development program utilizing Xenomics' DNA-based diagnostic technology was ranked by the European Commission as among the best technology development programs in the European Union.
SpaXen, Xenomics' collaborative venture with Italy's National Institute for Infectious Diseases (INMI), leads an international Consortium focusing on the development of a diagnostic test for tuberculosis utilizing Xenomics' DNA technology. The Consortium is currently in the final contract negotiation phase in preparation for euro 2.0 million in funding by the European Commission for the development of this test.
"Commercially successful testing methods for detecting and monitoring tuberculosis infections have not appreciably changed in fifty years," commented Dr. L. David Tomei, PhD., Xenomics' CEO and co-founder. "Xenomics' non-invasive, urine-based DNA diagnostic technology will foster fundamental improvements in safety, accuracy and functionality of diagnostic testing for tuberculosis."
Currently, the definitive diagnostic test for tuberculosis is a culture which takes up to three months to complete. Therefore, individuals with tuberculosis are often unaware of their condition during that period and are highly infectious. This is a serious problem in many parts of the developing world.
"The benefit of early detection of tuberculosis infections is obvious. However, it is important to note that the non-invasive aspect of Xenomics' urine-based technology makes it ideal for ongoing monitoring of tuberculosis infections which require repeated tests to ensure complete eradication," says Dr. Enrico Girardi, a leading tuberculosis researcher with INMI.
"Xenomics' technology is based upon the fact that cellular DNA from throughout the body cross the kidney barrier and accumulate in the urine," said Dr. Tomei. Through the analysis of easily obtained urine samples from patients, these highly novel Transrenal DNA fragments (Tr-DNA) can provide vital information about a wide range of conditions inside the body, including serious infectious diseases.
About SpaXen:
SpaXen is a collaborative venture of Xenomics and the National Institute for Infectious Diseases. Its mission is to conduct research on detection of infectious diseases.
About the National Institute for Infectious Diseases:
Established in 1936, the National Institute for Infectious Diseases (Istituto Nazionale per la Malattie Infettive "Lazarus Spallanzani") is devoted to the prevention, diagnosis and care of infectious diseases. Centrally located in Rome, it is among the leading health care and research institutions in Europe and throughout the world.
About the Consortium:
The Consortium consisting of world-renown clinical researchers with Italy's National Institute for Infectious Diseases, the University College of London, the University of Zambia School of Medicine, the University of Munich, the Mbeya Medical Research Programme, and the Foundation for Innovative New Diagnostics.
About Xenomics, Inc.
Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using Transrenal DNA (Tr-DNA). Xenomics' patented technology uses safe and simple urine collection and can be applied to a broad range of applications, including prenatal testing, tumor detection and monitoring, tissue transplantation, infectious disease detection, genetic testing for forensic identity determination, drug development, and research to counter bioterrorism. Scientists from Xenomics were the first to report that fragments of DNA from normal cell death cross the kidney barrier and can be detected in urine. The Company believes that its technology will open significant new markets in the molecular diagnostics field. Xenomics has three issued U.S. patents covering different applications of the technology for molecular diagnostics and genetic testing and a corresponding allowed European patent for the Company's prenatal testing applications. The Company has organized a joint venture to conduct research on infectious disease detection with the National Institute for Infectious Diseases (Istituto Nazionale per la Malattie Infettive "Lazarus Spallanzani") in Rome, in the form of a new R&D company called SpaXen Italia, S.R.L. For more investor-specific information, including daily and historical Company stock quote data, recent news releases and an Investor Fact Sheet, please visit http://www.trilogy-capital.com/tcp/xenomics. Xenomics is also listed on the Frankfurt Stock Exchange under the symbol XE7.
Forward-Looking Statements
Certain statements made in this press release are forward looking. Such statements are indicated by words such as "expect," "might," "should," "anticipate" and similar words indicating uncertainty in facts and figures. Although Xenomics believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. As discussed in Xenomics' Form SB-2 as filed with the Securities and Exchange Commission on March 15, 2006, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: uncertainties associated with product development, the risk that Xenomics will not obtain approval to market its products, the risk that Xenomics' technology will not gain market acceptance, the risks associated with dependence upon key personnel, and the need for additional financing.
Xenomics, Inc.CONTACT: L. David Tomei of Xenomics, Inc., +1-212-297-0808
