SAVANNAH, Ga.--(BUSINESS WIRE)--Health Discovery Corporation (OTCBB: HDVY) announced today that the Company has entered into an exclusive agreement with the Pancreas, Biliary and Liver Surgery Center of New York at Saint Vincent Catholic Medical Centers in New York City to provide clinical specimens to be utilized to complete the final validation of HDC’s molecular diagnostic test for colon cancer. This test demonstrated a 93% Sensitivity and a 93% Specificity in a previous validation study.
Today’s announcement is in addition to last week’s press release announcing a new collaboration with the Pancreas, Biliary and Liver Surgery Center of New York related to the discovery of a new molecular diagnostic test for pancreatic cancer.
There are an estimated 1.2 million new cases of colorectal cancer worldwide and approximately 637,000 deaths from the disease.
“We are very excited about the results of our previous validation study and look forward to achieving the same success in this final validation,” said Stephen D. Barnhill, M.D., Chairman and CEO of Health Discovery Corporation. “If we are successful in finding the molecular signature in blood as we were in tissue, HDC will have both a tissue-based colon cancer test to be used on biopsy specimens as well as a blood test which can be used as a screening test for colon cancer,” said Dr. Barnhill.
Under the terms of the agreement, the Pancreas, Biliary and Liver Surgery Center of New York will provide specimens from their collected specimen banks, as well as blood and tissue specimens on all new patients along with all associated clinical and outcomes data.
Health Discovery Corporation owns all of the intellectual property and commercialization rights to this molecular diagnostic test for colon cancer and HDC intends to partner with a large clinical laboratory for development, marketing and commercialization of this new colon cancer test.
In developing this new molecular diagnostic test for colon cancer, Health Discovery Corporation employed the same discovery process that led to the urine-based prostate cancer test that is licensed for development and commercialization to Quest Diagnostics (NYSE: DGX - News) and Abbott (NYSE: ABT - News) on a royalty-based, world-wide co-exclusive basis.
About Health Discovery Corporation
Health Discovery Corporation is a molecular diagnostics company that uses advanced mathematical techniques to analyze large amounts of data to uncover patterns that might otherwise be undetectable. It operates primarily in the emerging field of personalized medicine where such tools are critical to scientific discovery. Its primary business consists of licensing its intellectual property and developing its own product line of biomarker-based diagnostic tests that include human genes and genetic variations, as well as gene, protein, and metabolic expression differences and image analysis in digital pathology and radiology. For more information, see www.healthdiscoverycorp.com.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding future performance, opportunities and investments, and anticipated results in general. From time to time the Company may make other forward-looking statements relation to other matters, including without limitation, commercialization plans and strategic partnerships. Actual results may differ materially due to a variety of factors, including, among other things, the acceptance of our approach to applying mathematics computer science and physics into the disciplines of biology, organic chemistry and medicine and our products and technologies associated with those approaches, the ability to develop and commercialize new drugs, therapies or other products based on our approaches, and other factors set forth from time to time in the Company’s Securities and Exchange Commission filings.
All forward-looking statements and cautionary statements included in this document are made as of the date hereof based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement or cautionary statement.
Contact:
Health Discovery Corporation Scott Tobin, 912-443-1987 Tom Gallagher, 203-918-3115 investor@healthdiscoverycorp.com
