TUSTIN, CA--(Marketwire - June 15, 2010) - Through its US-based subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) released an update to its Onko-Sure™ in vitro diagnostic (IVD) commercialization efforts in India. The Company’s exclusive distributor in India, New Delhi based Gaur Diagno, Pvt Ltd (GDL) plans to implement a government supported general cancer screening program for select populations with high cancer rates. Details of GDL’s government supported general cancer in India are as follows:
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Initial Screening: General cancer screening will initially target two specific areas of the population. The first outreach program is a proactive outreach to in-demand populations through the deployment of mobile mini-buses which travel to various small towns and villages. The second outreach program will be a physician-referred general cancer screen conducted at government hospitals. It is anticipated Onko-Sure will be administered to at least fifty percent of those patients contacted through these two programs. GDL is also actively marketing to private hospitals in India and expects to increase market awareness and acceptance in this business segment in the fourth quarter of 2010. The goal of this outreach is to secure Onko-Sure as a routine cancer test in the existing bank of health tests offered by these institutions.
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Screening Methodology: Backed by the Indian government, GDL’s screening methodology is as follows. First, administered by a GDL nurse practitioner, targeted patients are given a ten minute, 67-point general health screening questionnaire created by a New Delhi based group of oncologists. If the patient answers yes to any major risk factor questions or yes to at least two low level risk factor questions, they will immediately have blood drawn, collected, and sent to GDL’s central laboratory located in New Delhi where it will be run on a single well Onko-Sure test. The Onko-Sure results will then be provided to the patient’s attending physician for consultation. If the results indicate positive for cancer the patient will be referred to a regional cancer hospital for further observation, testing, and potential treatment.
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Screening Program Economics: The economics for this program are still under negotiations with various prospective government health agencies. RPC anticipates GDL to charge a flat rate for 100% of administered Onko-Sure tests with GDL subsidizing and providing the general screening services as part of this program. Based upon GDL’s experience, the expectation is that the government agencies will provide GDL with an upfront payment, followed by additional quarterly milestone payments.
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Projected Sales Plan: GDL’s current projected Onko-Sure kit purchase plan is focused primarily around the ramp-up of government sponsored cancer testing program. The following are the estimated Onko-Sure cancer test purchases from ADI on a quarterly basis. These figures have the potential to increase significantly if more than 50% of the patients screened through GDL’s questionnaire are administered an Onko-Sure test. Current estimates provide for approximately US$520,000 in FY2010 Onko-Sure kit purchases and US$3 million in FY2011 kit purchases.
According to Mr. Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals, “Measurable progress for Onko-Sure cancer testing is of the utmost importance for Radient Pharmaceuticals and its employees, customers, partners and shareholders. We look forward to GDL receiving Indian government support in various regions to implement Onko-Sure as a general cancer screening tool. India is a top tier market for RPC’s Onko-Sure IVD cancer test and this marks one of the first major initiatives for Onko-Sure in this market.”
About Onko-Sure™:
Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved IVD test for use as an aid in early detection of cancer. Onko-Sure enables physicians and their patients to effectively monitor and/or detect certain types of cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP levels rise dramatically with the progression of cancer. Onko-Sure is approved by the US FDA for the monitoring of colorectal cancer, Health Canada as a lung cancer screen and cancer monitoring tool, and the European Union, Indian government, Korean government, and Taiwanese government as a cancer monitoring or cancer screening test. Onko-Sure test kits are currently sold as a blood test for cancer in Europe, India, Taiwan, Korea, Vietnam and in Chile for research use.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is a US-based pharmaceutical company specializing in the research, development and sales of In Vitro Diagnostic Cancer tests. Our focus is on the discovery, development & commercialization of unique high-value diagnostic tests that help physicians answer important clinical questions related to early disease detection; treatment strategy; and the monitoring of disease progression, prognosis, and diagnosis to ultimately improve outcomes for patients. Our Onko-Sure™ IVD cancer test is used to guide decisions regarding patient treatment, which may include decisions to refer patients to specialists, perform additional testing, or assist in the selection of therapy.
About Gaur Diagno:
Gaur Diagno is a New Delhi, India based pharmaceutical distributor. Additional information can be found on their website at http://www.gaurdiagno.com/.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company’s operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
Radient Pharma Contact:
Kristine Szarkowitz
Director-Investor Relations
Email Contact
Tel: 206.310.5323
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