Rosetta Genomics Receives 2012 North American Entrepreneurial Company of the Year Award by Frost & Sullivan Recognized for Its Strategic Excellence and Strong Contribution to Next-Generation Diagnostics
PHILADELPHIA and REHOVOT, Israel, Aug. 13, 2012 /PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, today announced that Frost & Sullivan has recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.
A recent Frost & Sullivan analysis on the United States cancer biomarkers market confirmed the growing credibility of clinical microRNA biomarkers, as compared to other potential clinical biomarkers, such as circulating tumor cells. The analysis noted that Rosetta Genomics was one of the first providers of microRNA-based diagnostics in 2007, and the platform is now clinically validated and featured in 37 peer-reviewed publications. Rosetta Genomics holds a leading patent position in the competitive microRNA diagnostics space. Building upon this foundation, the Company now has four microRNA-based diagnostic products on the market.
The company's flagship product, the miRview® mets2, is an innovative diagnostic tool for clinicians in the evaluation of their Cancer of Unknown/Uncertain Primary (CUP) patients. The miRview® mets2 assay measures the expression level of 64 microRNA biomarkers, which are then processed by an algorithm composed of two classifiers and a decision-maker that can accurately identify the origin of the patients' tumor for 42 different cancer tissue types, with 85 percent sensitivity and 99 percent specificity. Clinicians use Rosetta Genomics' assay to better diagnose CUP patients and get them on more optimal treatment plans.
"Rosetta Genomics' perfectly executed strategic plan involved a highly differentiated flagship product, continuous clinical validation in peer-reviewed journals and post-marketing studies, and prioritization of crucial relationships," said Frost & Sullivan Research Analyst Winny Tan. "The true testament to the soundness of the company's growth strategy was obtaining critical Medicare reimbursement for the miRview® mets2 test in June 2012."
"We are honored to be recognized by Frost & Sullivan as Entrepreneurial Company of the Year for the work we have done executing our strategy to develop our microRNA platform and commercialize our miRview® assays," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "Our recently announced co-marketing agreement, as well as the recent Medicare decision to reimburse the miRview® mets2 assay, significantly strengthens our prospects for widespread market adoption and revenue growth in the U.S."
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About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics. 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. Rosetta's miRview® product line is commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to Rosetta's strategic plan and the development and commercialization of Rosetta's miRview® assays, 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, 2011 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.
SOURCE Rosetta Genomics Ltd.