Leverages Rosetta's microRNA Biomarker Platform and Expertise and Global Pharmaceutical Company's Expertise in Alzheimer's Biology and Drug Development to Develop a Diagnostic for the Early Detection of Alzheimer's Disease
PRINCETON, NJ and REHOVOT, ISRAEL -- (Marketwired) -- 07/31/14 --
Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces that it has signed an agreement with a global pharmaceutical company (GPC) in the area of Alzheimer's disease (AD) diagnostics. Under the agreement, Rosetta will provide its microRNA profiling and other services to assist in the development of a microRNA-based diagnostic for the early detection of AD. Rosetta will leverage the GPC's expertise in AD as it is considered a pioneer in the development and commercialization of therapeutics for AD.
"Earlier diagnosis of Alzheimer's disease is critical to the development of new, effective therapeutics that can advance the standard-of-care for the treatment of AD. Currently, we are diagnosing AD patients too late in their disease to have an appreciable impact. We are delighted to be working with this global pharmaceutical company, one of the global leaders in Alzheimer's disease drug development, and look forward to using our cutting-edge microRNA expertise to advance development of an early stage diagnostic for this irreversible, progressive brain disease," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
"Our efforts in AD are another example of how, in addition to our current cancer testing services, we continue to explore ways to capitalize on our leading microRNA biomarker platform to respond to important unmet medical needs both within and outside of oncology," concluded Mr. Berlin.
About Alzheimer's Disease
According to the National Institutes of Health, Alzheimer's disease is an irreversible, progressive brain disease that slowly destroys memory and thinking skills, and eventually even the ability to carry out the simplest tasks. In most people with Alzheimer's disease, symptoms first appear after age 60. Estimates vary, but experts suggest that as many as 5.1 million Americans may have the disease.
Alzheimer's disease is the most common cause of dementia among the elderly. Dementia is the loss of cognitive functioning -- thinking, remembering, and reasoning -- and behavioral abilities, to such an extent that it interferes with a person's daily life and activities. Dementia ranges in severity from the mildest stage, when it is just beginning to affect a person's functioning, to the most severe stage, when the person must depend completely on others for basic activities of daily living.
About Rosetta Genomics
Founded in 2000, Rosetta'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 patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools and therapeutics. Rosetta currently commercializes a full range of microRNA-based molecular diagnostics. Rosetta's cancer testing services are commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab. For more information please visit www.rosettagenomics.com.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to Rosetta entering into commercial collaborations, Rosetta's conducting research in the field of Alzheimer's disease, Rosetta's growth, Rosetta's ability to advance its commercial strategy to bring meaningful diagnostics to market and the scope of the collaboration between Rosetta and third parties, 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 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, 2013 as filed with the SEC. 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.
Rosetta Genomics Contact:
President & CEO
Anne Marie Fields
Source: Rosetta Genomics, Ltd.