REHOVOT, Israel and JERSEY CITY, New Jersey, September 29 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. has been named this year's winner of the Medical-Biotech category in the Wall Street Journal Technology Innovation Awards.
The Wall Street Journal received more than 700 entries for the Innovation Awards, and a Journal editor narrowed the field down to the 162 that were scored by the judges. Judges looked for innovations that broke new ground in their fields and that demonstrated some measurable impact. Only 4% of the entries received the final award in 16 different categories.
"We are excited to receive this prestigious award in recognition of the groundbreaking microRNA-based diagnostic tests that are being developed at Rosetta Genomics," said Amir Avniel, President and CEO of the company. "Rosetta Genomics has been one of the first companies to recognize the vast potential microRNAs hold for clinical applications, and we expect the first microRNA-based tests to be launched later this year."
About microRNAs
MicroRNAs (miRNAs) are recently discovered, naturally occurring, small RNAs that act as master 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 in various pathological conditions. As a result, these differences may provide for a novel diagnostic strategy for many diseases.
About Rosetta Genomics
Rosetta Genomics is a leader in the field of microRNA. 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 proprietary platform technologies, Rosetta Genomics is working on the application of these technologies in the development of a full range of microRNA-based diagnostic and therapeutic tools, focusing primarily on cancer and various women's health indications. The first test based on the company's technology, differentiating squamous from non squamous non small cell lung cancer, is now approved through Columbia University Medical Center's High Complexity Molecular Pathology Laboratory. In Addition, the company expects two additional microRNA diagnostic tests applying its technology will be validated and submitted for regulatory approval by licensed clinical laboratories in the United States in 2008.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the role of microRNAs in human physiology and disease, the potential of microRNAs in the diagnosis and treatment of disease, and the expected timing of submission for approval and launch of diagnostic tests using our microRNA technology 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 microRNA technology and to work on the application of this technology in the development of novel diagnostics and therapeutic tools, which is unproven and may never lead to marketable products or services; Rosetta's ability to obtain, maintain and protect its intellectual property; Rosetta's ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta's need and 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; Rosetta's ability to successfully develop its candidate tools, products and services, all of which are in early stages of development; Rosetta's ability to obtain regulatory clearances or approvals that may be required for its products and services; the ability to obtain coverage and adequate payment from health insurers for the products and services comprising Rosetta's technology; 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 Annual Report on Form 20-F for the year ended December 31, 2007 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release 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: Contact: Investors, Joshua Gordon, M.D., T: +1-201-946-0561, E:
investors@rosettagenomics.com. Media, Ron Kamienchick, T: +1-646-509-1893,
E: media@rosettagenomics.com
