TUSTIN, CA--(Marketwire - April 22, 2010) - Through its US-based subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today that it plans to expand its worldwide commercialization strategy for its Onko-Sure™ in vitro diagnostic (IVD) cancer test to include Clinical Laboratory Improvement Amendments (CLIA) laboratory testing services in the US and Canada through corporate partnerships beginning in the second quarter FY2010.
RPC intends to supply Onko-Sure test kits; along with scientific proof tools, marketing support and healthcare advocacy programs to select partners in the US and Canada. RPC's partners are anticipated to commit marketing resources to drive awareness and sales outreach to healthcare professionals and the general public in the US and Canada for the CLIA laboratory testing services. RPC expects that through this new service its partner(s) will perform as many as 200,000 Onko-Sure cancer tests through one or more CLIA laboratories in FY2010 and this additional sales channel is anticipated to contribute to RPC reaching cash flow positive operations by the end of the 3rd quarter of 2010.
According to Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals, "RPC continues to make substantive progress in its 2010 Onko-Sure commercialization and outreach plan. This CLIA lab cancer testing service can provide another comprehensive and potentially life-saving cancer screening option that meets the growing cancer challenges faced in the US and Canada."
Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved in vitro diagnostic 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 and by Health Canada as a lung cancer screen and cancer monitoring tool.
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at IR@Radient-Pharma.com or 1.206.310.5323.
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic and therapeutic products.
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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