NEW YORK, April 20, 2012 /PRNewswire/ -- MetaStat, Inc. (OTCBB: MTST), formerly (OTCBB: PVSO), ("MetaStat" or the "Company"), a life science company focused on developing and commercializing proprietary clinical diagnostic tests that predict the probability of cancer metastasis, as well as companion therapeutics to prevent systemic metastasis, today announced that it has changed its name from PhotoVoltaic Solar Cells, Inc. to MetaStat, Inc. effective April 9, 2012. In connection with this name change, as of the open of business on April 20, 2012, the Company has the following new trading symbol: "MTST."
About MetaStat, Inc.
MetaStat is a life science company focused on the development and commercialization of proprietary clinical diagnostic tests that predict the probability of systemic hematogenous (blood borne) metastasis of cancer, as well as companion therapeutics to prevent this deadly spread. We believe our initial product, the MetaSite Breast™ test, will predict the probability that cancer will be disseminated by this means to other organs in the body. MetaSite Breast is expected to be a breakthrough for breast cancer patients and their doctors because metastasis is responsible for almost 90% of fatalities from breast cancer. Further, the platform technology underlying this diagnostic approach may be applicable in up to 80% of all solid tumor cancers, including prostate, lung, colorectal, head and neck, and pancreatic. Most significantly, we believe our platform technology provides us with targets of intervention in key pathways for the development of the first therapies that may preemptively reduce or eliminate metastasis.
Our technology platform and corresponding products result from over 15 years of collaboration involving four highly respected scientific institutions. We are unique and differentiated in the marketplace because our discoveries are based on direct microscopic visualization of living, functioning cancer tumors. We have observed the behavior of metastatic cells as they migrate to and penetrate blood vessels, where they are subsequently carried away to establish distant site metastases.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of MetaStat Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the impact of the proceeds from the private placement on the Company's short term business and operations; the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "intends" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov).
For More Information, Contact:
Warren C. Lau
President & CEO
SOURCE MetaStat, Inc.; PhotoVoltaic Solar Cells, Inc.