OncoVista Innovative Therapies currently owns 85% of AdnaGen AG, a privately-held German diagnostic company that has developed and commercialized proprietary technology and kits for the sensitive detection and molecular analysis of circulating tumor cells in blood. The Company is utilizing the AdnaGen technology to drive its efforts to develop and bring to market more effective and less toxic drugs for treatment of cancer.
OncoVista’s Chief Executive Officer, Alexander L. Weis, Ph.D., commented: “We are very excited to have someone with Dr. Rodatz’s tremendous expertise in the diagnostics field.” Dr. Weis added, “Dr. Rodatz will be of great value in successfully managing and marketing AdnaGen’s innovative and unique tumor diagnostic products and his leadership in this area will be instrumental in accelerating corporate growth at OncoVista.”
Dr. Wolfram Rodatz stated: “I am very pleased to be joining AdnaGen’s management team. The Company’s approach to detection of biomarkers in circulating tumor cells is outstanding and I am looking forward to the challenge of expanding the market for this valuable technology.”
Prior to joining AdnaGen, Dr. Rodatz was General Manager of Digilab BioVisioN GmbH, a Germany company offering technologies for peptide and protein biomarker discovery as well as sample preparation services and products. Before that, he was Managing Director Germany and General Manager Central Europe (including countries of the former Eastern bloc) at Bio-Rad Laboratories (AMEX: BIO), where he was key to building their life sciences and diagnostics business to annual revenues of over 100 Million Euros.
About OncoVista, Inc.
OncoVista is a biopharmaceutical company engaged in the development and commercialization of targeted cancer therapies both through the acquisition of rights to technologies and drugs from others and through the development of proprietary products. OncoVista intends to identify, develop and rapidly commercialize innovative therapies for safer and more efficacious treatment of cancer. OncoVista believes that the development of targeted approaches to the administration of anticancer agents should lead to improved outcomes and/or reduced toxicity. In targeting compounds for acquisition, OncoVista focuses on candidates that have been previously tested in human clinical trials or animal models, as well as technologies that may improve the delivery or targeting of previously tested, and in some cases marketed, anticancer agents. OncoVista’s senior management team and its panel of internationally-recognized clinical advisors have made significant contributions to the development of leading drugs currently used in cancer treatment. Its management, in conjunction with its advisors, intends to evaluate in-licensing candidates based on several criteria, including development and registration strategies to be employed, commercialization opportunities and competitive technologies being developed elsewhere. OncoVista’s primary therapeutic strategy is based on targeting the patient’s tumor(s) with treatments that will deliver drugs selectively based upon specific biochemical characteristics of the cancer cells comprising the tumor. Through a combination of licensing agreements as well as mergers and acquisitions, OncoVista has acquired the rights to several technologies with the potential to more effectively treat cancers and significantly improve quality-of-life for patients.
About AdnaGen
AdnaGen, founded in 1999, is a privately held biotechnology research and development company based in Langenhagen, Germany. AdnaGen focuses on the development of innovative tumor diagnostics by utilizing its proprietary technology for the detection and analysis of rare but clinically important cells. Kits for metastatic breast and colon cancer are CE-marked and currently marketed in Europe. AdnaGen is ISO 9001 and EN 13485 certified. For more information, go to www.adnagen.com.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements.
Contacts
OncoVista Innovative Therapies Inc. Alexander L. Weis, Ph.D., 210-677-6000 Chief Executive Officer or Investors: Aimee Boutcher, 973-239-2878 aboutcher@aol.com
