REHOVOT, Israel and NEW YORK, September 7 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. , a global leader in the field of microRNA and RNAi, announced today it will be working in collaboration with NYU Medical Center to leverage the significant potential of microRNA profiles to develop a diagnostic test for melanoma.
Rosetta Genomics believes its unique diagnostic engine has enabled it to discover the majority of known microRNA sequences for which it has submitted a series of patent applications. With this proprietary engine, Rosetta will screen more than 700 microRNAs (many of which are not publicly available) in order to identify the right signature which will potentially be able to quickly and efficiently find the right prognostic indicator test for harmful melanomas.
While this melanoma diagnostic test is still in the early stages, Rosetta Genomics plans to launch three diagnostic products in 2008 that include a test for cancer of unknown primary ("CUP") and two differential diagnostic tests related to lung cancer. The company will continue gradually to expand its pipeline with more diagnostic and eventually therapeutic applications.
"We see helping cure cancer as an incredibly important responsibility for Rosetta Genomics. Much of our work surrounds discovering microRNA biomarkers, and given how much is known about the connection between microRNA and cancer, we believe that we are in a unique position to advance the fields of cancer diagnosis, prognosis and therapeutics. This collaboration with NYU will give both organizations an opportunity to understand a deadly cancer in new ways and to try to save patient lives," said Amir Avniel, Rosetta Genomics' Chief Executive Officer.
Melanoma is one of the leading causes of skin cancer deaths, accounting for 48,000 fatalities worldwide each year. It is one of the more rare types of skin cancer but causes the majority of skin cancer related deaths. This collaboration seeks to identify microRNAs that can be used as prognostic indicators for the overall survival of melanoma patients and the risk that the disease will metastasize to distant sites.
"Each year more than 150,000 people are diagnosed with melanoma," said Dr. Eva Hernando of the Department of Pathology at the NYU School of Medicine. "We believe that through our work with microRNAs, which have been shown to hold tremendous potential as biomarkers, we will be able to better understand both the origins and the development of the disease. NYU's extensive experience with melanoma, combined with Rosetta Genomics unmatched knowledge in microRNAs offers an exciting research opportunity."
"We see microRNAs as the biomarkers of the future," said Dr. Dalia Cohen, Executive Vice President, Global Research and Development of Rosetta Genomics. "There is a large and growing body of scientific evidence pointing to microRNAs' potential as diagnostic and prognostic biomarkers for various types of cancers. We believe our work with world renowned experts in melanoma such as Dr. Nina Bhardwaj at NYU, and deploying the proprietary tools developed at Rosetta Genomics for microRNA extraction, identification and quantification, will help to more fully understand melanoma and subsequently the prognosis of melanoma patients."
About microRNAs
MicroRNAs (miRNAs) are a recently discovered, naturally occurring form of RNAi. These small RNAs act as protein 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 levels in certain diseased versus normal tissues. As a result, these differences potentially provide for a novel diagnostic strategy for many diseases. MicroRNAs are thought to play a key role in the differentiation of cells into specific cell types performing various functions in the body.
About NYU Medical Center
One of the world's premier academic medical institutions for more than 155 years, NYU Medical Center continues to be a leader in patient care, physician education and scientific research. NYU Medical Center is internationally renowned for excellence in areas such as cardiovascular disease, pediatrics, skin care, neurosurgery, urology, cancer care, rehabilitation, plastic surgery, minimally invasive surgery, transplant surgery, infertility, women's health and day surgery.
About Rosetta Genomics
Rosetta Genomics is a leader in the field of microRNA and RNAi. 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 strategic alliances with leading biotechnology companies, Rosetta Genomics is working to develop a full range of diagnostic and therapeutic products based on microRNAs. The company's primary focus is in the development of microRNA-based products to diagnose and treat different forms of cancer and other diseases.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to our ability to successfully develop early detection diagnostic products for lung cancer and Melanoma in collaboration with NYU Medical Center, the role of miRNAs in human physiology and disease, and the potential of microRNAs in the diagnosis and treatment of disease, 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 products, which is unproven and may never lead to marketable products; Rosetta's ability to fund and the results of further pre-clinical and clinical trials; obtaining, maintaining and protecting 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; the successful development of Rosetta's product candidates, all of which are in early stages of development; obtaining regulatory approval for products; 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 most recent Registration Statement on Form F-1 on file with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta's views only as of today 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.
Contact: Media Alan Zachary T: +1-312-944-6784 media@rosettagenomics.com Investors Juliane Snowden T: +1-212-213-0006 investors@rosettagenomics.com
Rosetta Genomics LtdCONTACT: Contact: Media Alan Zachary, T: +1-312-944-6784,media@rosettagenomics.com; Investors, Juliane Snowden, T: +1-212-213-0006,investors@rosettagenomics.com
