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Specimen Testing is Now Commercially Available in the Clinical Laboratories of Helomics Corporation PITTSBURGH, PA and WEST PALM BEACH, FL / ACCESSWIRE / May 11, 2017 / Helomics® Corporation (Helomics), a privately-held, healthcare company providing personalized medicine solutions for clients in the pharmaceutical, diagnostic, and biotechnology industries, and MDNA Life Sciences, Inc. (MDNA), the molecular diagnostics company pioneering the development of liquid biopsy tests based on the mitochondrial genome, today announced the commercial launch of MDNA's liquid biopsy Prostate Mitomic Test™ (PMT™) in selected U.S. markets. This proprietary test, which utilizes MDNA's Mitomic Technology™ platform, exploits the unique biological characteristics of mitochondrial DNA and is available exclusively in the clinical laboratories of Helomics. PMT™ is a liquid biopsy test independent of PSA and age for the early detection of high-grade prostate cancer in advance of biopsy. It is intended for use in men with clinical suspicion of prostate cancer to determine who is likely to have high-grade cancer that may require immediate intervention. PMT's high negative predictive value will also be useful in identifying cases that can safely delay or forego immediate biopsy. Current clinical practice using PSA as a first-line screening tool results in many unnecessary biopsies. PMT™ aids clinicians in differentiating between men who will benefit from immediate biopsy from those who will not, thus avoiding a costly and invasive procedure. Gerald J. Vardzel Jr., President and CEO of Helomics, said, "We are extremely excited about the launch of the first clinical test commercialized as a result of our strategic collaboration with MDNA. We are very pleased that MDNA has chosen us to be their commercialization partner and we are looking forward to collaborating with them to bring additional diagnostic tests, based on their proprietary mitochondrial DNA platform, to the market." Arlette H. Uihlein, MD, FACP, FASCP, Vice President of Operations, Pathology Services, and Medical Director at Helomics added, "As the leading developer of mitochondrial DNA-based diagnostic tests, MDNA's proprietary Mitomic Technology™ platform is uniquely positioned to mine mitochondrial DNA for unique biomarkers of disease. The identification of these mitochondrial DNA biomarkers in the blood of patients, and the validation of their clinical utility, will have a significant diagnostic impact across a wide variety of different disease states." Chris Mitton, President and CEO of MDNA, stated, "We are pleased to announce the availability of PMT™ as an LDT through the Helomics' clinical lab. This is a key milestone for the commercial expansion of this novel test and for our proprietary Mitomic Technology™ platform. With a 97% negative predictive value for high-grade prostate cancer, PMT™ will have a significant impact on how prostate biopsy decisions are made moving forward, and we are excited to be working with Helomics to increase patient access to this technology in the U.S. This is the first of several proprietary liquid biopsy tests that we plan to commercialize leveraging the Mitomic Technology™ platform through our strategic collaboration with Helomics. Tests currently in development include a new groundbreaking liquid biopsy test for endometriosis, as well as blood-based tests for ovarian cancer and lung cancer." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers advanced clinical laboratory diagnostic tests as well as scientific and non-scientific product enhancement services to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains state-of-the-art, CLIA-certified, clinical and research laboratories. For more information please visit: www.helomics.com. MDNA Life Sciences, Inc. is leading the development of molecular diagnostic tests using its proprietary Mitomic Technology™ platform that exploits the unique biological characteristics of mitochondrial DNA. This innovative platform is a highly attractive and effective system for biomarker discovery, early disease detection, monitoring, risk assessment and therapeutic targeting. It has led to the discovery of numerous novel and proprietary biomarkers for a multitude of cancers and other diseases. The Company is applying its expertise in mitochondrial genomics to develop an extensive and proprietary portfolio of blood-based molecular tests for conditions that are currently dependent on poor or absent screening tests or invasive procedures for detection. For more information, visit www.mdnalifesciences.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information regarding Helomics Corporation, please contact: For more information regarding MDNA Life Sciences, Inc., please contact: Specimen Testing is Now Commercially Available in the Clinical Laboratories of Helomics Corporation PITTSBURGH, PA and WEST PALM BEACH, FL / ACCESSWIRE / May 11, 2017 / Helomics® Corporation (Helomics), a privately-held, healthcare company providing personalized medicine solutions for clients in the pharmaceutical, diagnostic, and biotechnology industries, and MDNA Life Sciences, Inc. (MDNA), the molecular diagnostics company pioneering the development of liquid biopsy tests based on the mitochondrial genome, today announced the commercial launch of MDNA's liquid biopsy Prostate Mitomic Test™ (PMT™) in selected U.S. markets. This proprietary test, which utilizes MDNA's Mitomic Technology™ platform, exploits the unique biological characteristics of mitochondrial DNA and is available exclusively in the clinical laboratories of Helomics. PMT™ is a liquid biopsy test independent of PSA and age for the early detection of high-grade prostate cancer in advance of biopsy. It is intended for use in men with clinical suspicion of prostate cancer to determine who is likely to have high-grade cancer that may require immediate intervention. PMT's high negative predictive value will also be useful in identifying cases that can safely delay or forego immediate biopsy. Current clinical practice using PSA as a first-line screening tool results in many unnecessary biopsies. PMT™ aids clinicians in differentiating between men who will benefit from immediate biopsy from those who will not, thus avoiding a costly and invasive procedure. Gerald J. Vardzel Jr., President and CEO of Helomics, said, "We are extremely excited about the launch of the first clinical test commercialized as a result of our strategic collaboration with MDNA. We are very pleased that MDNA has chosen us to be their commercialization partner and we are looking forward to collaborating with them to bring additional diagnostic tests, based on their proprietary mitochondrial DNA platform, to the market." Arlette H. Uihlein, MD, FACP, FASCP, Vice President of Operations, Pathology Services, and Medical Director at Helomics added, "As the leading developer of mitochondrial DNA-based diagnostic tests, MDNA's proprietary Mitomic Technology™ platform is uniquely positioned to mine mitochondrial DNA for unique biomarkers of disease. The identification of these mitochondrial DNA biomarkers in the blood of patients, and the validation of their clinical utility, will have a significant diagnostic impact across a wide variety of different disease states." Chris Mitton, President and CEO of MDNA, stated, "We are pleased to announce the availability of PMT™ as an LDT through the Helomics' clinical lab. This is a key milestone for the commercial expansion of this novel test and for our proprietary Mitomic Technology™ platform. With a 97% negative predictive value for high-grade prostate cancer, PMT™ will have a significant impact on how prostate biopsy decisions are made moving forward, and we are excited to be working with Helomics to increase patient access to this technology in the U.S. This is the first of several proprietary liquid biopsy tests that we plan to commercialize leveraging the Mitomic Technology™ platform through our strategic collaboration with Helomics. Tests currently in development include a new groundbreaking liquid biopsy test for endometriosis, as well as blood-based tests for ovarian cancer and lung cancer." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers advanced clinical laboratory diagnostic tests as well as scientific and non-scientific product enhancement services to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains state-of-the-art, CLIA-certified, clinical and research laboratories. For more information please visit: www.helomics.com. MDNA Life Sciences, Inc. is leading the development of molecular diagnostic tests using its proprietary Mitomic Technology™ platform that exploits the unique biological characteristics of mitochondrial DNA. This innovative platform is a highly attractive and effective system for biomarker discovery, early disease detection, monitoring, risk assessment and therapeutic targeting. It has led to the discovery of numerous novel and proprietary biomarkers for a multitude of cancers and other diseases. The Company is applying its expertise in mitochondrial genomics to develop an extensive and proprietary portfolio of blood-based molecular tests for conditions that are currently dependent on poor or absent screening tests or invasive procedures for detection. For more information, visit www.mdnalifesciences.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information regarding Helomics Corporation, please contact: For more information regarding MDNA Life Sciences, Inc., please contact:


Specimen Testing is Now Commercially Available in the Clinical Laboratories of Helomics Corporation PITTSBURGH, PA and WEST PALM BEACH, FL / ACCESSWIRE / May 11, 2017 / Helomics® Corporation (Helomics), a privately-held, healthcare company providing personalized medicine solutions for clients in the pharmaceutical, diagnostic, and biotechnology industries, and MDNA Life Sciences, Inc. (MDNA), the molecular diagnostics company pioneering the development of liquid biopsy tests based on the mitochondrial genome, today announced the commercial launch of MDNA's liquid biopsy Prostate Mitomic Test™ (PMT™) in selected U.S. markets. This proprietary test, which utilizes MDNA's Mitomic Technology™ platform, exploits the unique biological characteristics of mitochondrial DNA and is available exclusively in the clinical laboratories of Helomics. PMT™ is a liquid biopsy test independent of PSA and age for the early detection of high-grade prostate cancer in advance of biopsy. It is intended for use in men with clinical suspicion of prostate cancer to determine who is likely to have high-grade cancer that may require immediate intervention. PMT's high negative predictive value will also be useful in identifying cases that can safely delay or forego immediate biopsy. Current clinical practice using PSA as a first-line screening tool results in many unnecessary biopsies. PMT™ aids clinicians in differentiating between men who will benefit from immediate biopsy from those who will not, thus avoiding a costly and invasive procedure. Gerald J. Vardzel Jr., President and CEO of Helomics, said, "We are extremely excited about the launch of the first clinical test commercialized as a result of our strategic collaboration with MDNA. We are very pleased that MDNA has chosen us to be their commercialization partner and we are looking forward to collaborating with them to bring additional diagnostic tests, based on their proprietary mitochondrial DNA platform, to the market." Arlette H. Uihlein, MD, FACP, FASCP, Vice President of Operations, Pathology Services, and Medical Director at Helomics added, "As the leading developer of mitochondrial DNA-based diagnostic tests, MDNA's proprietary Mitomic Technology™ platform is uniquely positioned to mine mitochondrial DNA for unique biomarkers of disease. The identification of these mitochondrial DNA biomarkers in the blood of patients, and the validation of their clinical utility, will have a significant diagnostic impact across a wide variety of different disease states." Chris Mitton, President and CEO of MDNA, stated, "We are pleased to announce the availability of PMT™ as an LDT through the Helomics' clinical lab. This is a key milestone for the commercial expansion of this novel test and for our proprietary Mitomic Technology™ platform. With a 97% negative predictive value for high-grade prostate cancer, PMT™ will have a significant impact on how prostate biopsy decisions are made moving forward, and we are excited to be working with Helomics to increase patient access to this technology in the U.S. This is the first of several proprietary liquid biopsy tests that we plan to commercialize leveraging the Mitomic Technology™ platform through our strategic collaboration with Helomics. Tests currently in development include a new groundbreaking liquid biopsy test for endometriosis, as well as blood-based tests for ovarian cancer and lung cancer." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers advanced clinical laboratory diagnostic tests as well as scientific and non-scientific product enhancement services to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains state-of-the-art, CLIA-certified, clinical and research laboratories. For more information please visit: www.helomics.com. MDNA Life Sciences, Inc. is leading the development of molecular diagnostic tests using its proprietary Mitomic Technology™ platform that exploits the unique biological characteristics of mitochondrial DNA. This innovative platform is a highly attractive and effective system for biomarker discovery, early disease detection, monitoring, risk assessment and therapeutic targeting. It has led to the discovery of numerous novel and proprietary biomarkers for a multitude of cancers and other diseases. The Company is applying its expertise in mitochondrial genomics to develop an extensive and proprietary portfolio of blood-based molecular tests for conditions that are currently dependent on poor or absent screening tests or invasive procedures for detection. For more information, visit www.mdnalifesciences.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information regarding Helomics Corporation, please contact: For more information regarding MDNA Life Sciences, Inc., please contact:


Specimen Testing is Now Commercially Available in the Clinical Laboratories of Helomics Corporation PITTSBURGH, PA and WEST PALM BEACH, FL / ACCESSWIRE / May 11, 2017 / Helomics® Corporation (Helomics), a privately-held, healthcare company providing personalized medicine solutions for clients in the pharmaceutical, diagnostic, and biotechnology industries, and MDNA Life Sciences, Inc. (MDNA), the molecular diagnostics company pioneering the development of liquid biopsy tests based on the mitochondrial genome, today announced the commercial launch of MDNA's liquid biopsy Prostate Mitomic Test™ (PMT™) in selected U.S. markets. This proprietary test, which utilizes MDNA's Mitomic Technology™ platform, exploits the unique biological characteristics of mitochondrial DNA and is available exclusively in the clinical laboratories of Helomics. PMT™ is a liquid biopsy test independent of PSA and age for the early detection of high-grade prostate cancer in advance of biopsy. It is intended for use in men with clinical suspicion of prostate cancer to determine who is likely to have high-grade cancer that may require immediate intervention. PMT's high negative predictive value will also be useful in identifying cases that can safely delay or forego immediate biopsy. Current clinical practice using PSA as a first-line screening tool results in many unnecessary biopsies. PMT™ aids clinicians in differentiating between men who will benefit from immediate biopsy from those who will not, thus avoiding a costly and invasive procedure. Gerald J. Vardzel Jr., President and CEO of Helomics, said, "We are extremely excited about the launch of the first clinical test commercialized as a result of our strategic collaboration with MDNA. We are very pleased that MDNA has chosen us to be their commercialization partner and we are looking forward to collaborating with them to bring additional diagnostic tests, based on their proprietary mitochondrial DNA platform, to the market." Arlette H. Uihlein, MD, FACP, FASCP, Vice President of Operations, Pathology Services, and Medical Director at Helomics added, "As the leading developer of mitochondrial DNA-based diagnostic tests, MDNA's proprietary Mitomic Technology™ platform is uniquely positioned to mine mitochondrial DNA for unique biomarkers of disease. The identification of these mitochondrial DNA biomarkers in the blood of patients, and the validation of their clinical utility, will have a significant diagnostic impact across a wide variety of different disease states." Chris Mitton, President and CEO of MDNA, stated, "We are pleased to announce the availability of PMT™ as an LDT through the Helomics' clinical lab. This is a key milestone for the commercial expansion of this novel test and for our proprietary Mitomic Technology™ platform. With a 97% negative predictive value for high-grade prostate cancer, PMT™ will have a significant impact on how prostate biopsy decisions are made moving forward, and we are excited to be working with Helomics to increase patient access to this technology in the U.S. This is the first of several proprietary liquid biopsy tests that we plan to commercialize leveraging the Mitomic Technology™ platform through our strategic collaboration with Helomics. Tests currently in development include a new groundbreaking liquid biopsy test for endometriosis, as well as blood-based tests for ovarian cancer and lung cancer." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers advanced clinical laboratory diagnostic tests as well as scientific and non-scientific product enhancement services to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains state-of-the-art, CLIA-certified, clinical and research laboratories. For more information please visit: www.helomics.com. MDNA Life Sciences, Inc. is leading the development of molecular diagnostic tests using its proprietary Mitomic Technology™ platform that exploits the unique biological characteristics of mitochondrial DNA. This innovative platform is a highly attractive and effective system for biomarker discovery, early disease detection, monitoring, risk assessment and therapeutic targeting. It has led to the discovery of numerous novel and proprietary biomarkers for a multitude of cancers and other diseases. The Company is applying its expertise in mitochondrial genomics to develop an extensive and proprietary portfolio of blood-based molecular tests for conditions that are currently dependent on poor or absent screening tests or invasive procedures for detection. For more information, visit www.mdnalifesciences.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information regarding Helomics Corporation, please contact: For more information regarding MDNA Life Sciences, Inc., please contact:


Patent
Helomics | Date: 2015-11-06

The present invention provides methods for predicting or modeling a chemotherapy outcome for a given patient The method produces chemoresponse data, and presents the chemoresponse data in a clinically meaningful context such that the data can be meaningfully interpreted and evaluated in a clinical context The method of the invention involves correlating in vitro chemoresponse results for a particular patient with historical treatment outcomes Where a population of historical outcomes are matched to the patient by one or more clinical vanables and such outcomes are matched to a potential treatment by the in vitro efficacy of the agent received, a meaningful simulation of the potential treatment for the patient can be constructed Simulations, such as survival curves, for a plurality of potential treatments may be generated and compared to contrast the estimated outcomes for several potential treatments, thereby providing the information desirable to design an individualized treatment regimen.


Trademark
Helomics | Date: 2016-01-25

pharmaceutical preparations for treating cancer, infectious diseases, and cardiovascular conditions.


Corporate Restructuring Includes a Change of Principle Ownership and Gerald J. Vardzel, Jr. Joins as the New President and CEO PITTSBURGH, PA / ACCESSWIRE / December 21, 2016 / Helomics® Corporation, a privately-held, healthcare company providing personalized medicine solutions for clients in the pharmaceutical, diagnostic, and biotech industries, today announced the completion of the final phase of its corporate realignment towards becoming a fully-integrated clinical contract research and clinical products organization ("ICCRO"). As an ICCRO, Helomics will provide product enhancement and clinical laboratory services, including comprehensive tumor profiling utilizing proprietary cell-based products and services, to strategic partners in the healthcare industries. The new business model will continue to offer and enhance the Company's clinical laboratory test menu, leveraging core scientific strengths, to provide physicians with relevant clinical information to better inform their patient treatment decisions. Now, patients who consent to sample testing at Helomics have the opportunity to further cancer research and the development of new therapies and diagnostic methods through Helomics' innovative technology development and industry partnerships. Gerald J. Vardzel Jr., will serve as the President and CEO. With over 25 years of industry experience, Mr. Vardzel has guided many innovative products through validation and commercialization, perfecting tried and tested strategies in both start-up and established settings. Mr. Vardzel said, "It is a pleasure for me to serve in this leadership role for Helomics. Helomics has a history of commitment to cutting-edge science to improve patient care. This corporate realignment will allow us to focus on partnerships with pharmaceutical and diagnostic companies to enable innovative therapies and diagnostic technologies in the marketplace." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers scientific and non-scientific product enhancement services and advanced clinical laboratory diagnostic tests to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains a state-of-the-art research laboratory and a CLIA-certified clinical laboratory. For more information please visit: www.helomics.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information, please contact:


PITTSBURGH--(BUSINESS WIRE)--Helomics™ Corporation, a privately-held comprehensive personalized healthcare company that provides comprehensive tumor profiling utilizing proprietary live cell and fixed cell products as well as other lab services, announced today that the American Medical Association’s CPT® Editorial Board has awarded Helomics’ flagship live cell assay, ChemoFx®, its own unique CPT codes. To receive a unique CPT code, a product must satisfy a stringent set of criteria and undergo a number of reviews. In the future, these codes will allow for an accurate, unique description of this key tool used during the treatment decision making process managed by physicians. The codes are 81535 & 81536. ChemoFx® is a treatment selection marker for chemotherapies. As part of the PCAP™ System, ChemoFx is an assay that quantifies an individual gynecologic cancer patient's probable tumor response to various chemotherapeutic and biologic agents—providing both sensitivity and resistance information. ChemoFx is intended to be utilized in conjunction with treatment guidelines, heuristics and pathways to optimize the decision making process and allow physicians and care-giver teams the opportunity to favorably impact the standard of care. By testing multiple chemotherapies on a patient's cancer cells before treating the cancer patient, ChemoFx helps determine the chemotherapies that are more likely to be effective on the tumor, and helps guide the physician away from therapies that are more likely to be ineffective - giving patients a powerful advantage in the fight against gynecologic cancer. A recent study demonstrates improvement in progression-free and overall survival for both platinum-sensitive and platinum-resistant recurrent ovarian cancer when patients are treated with agents identified as sensitive by ChemoFx. • ChemoFx results were associated with a 14 month (65%) increase in mean overall survival and a 50% improvement in progression-free survival • Both overall and progression-free survival differences persisted after controlling for other factors through multivariate analysis (HR=0.66, p=0.02) • The effect was similar in both platinum-sensitive and platinum-resistant tumors PCAP™ is Helomics’ proprietary live tumor cell platform for personalized comprehensive tumor profiling. Physicians and researchers send tumor specimens to Helomics who proprietarily grow the patient’s tumors and continuously analyze the proliferative cell cycling of the tumor on a personalized basis. After complete tumor growth, the specimens are then treated with therapeutic drugs to assess the degree of response sensitivities to particular modalities. The PCAP platform has been meticulously refined for over 15 years and is currently in its 3rd generation of tumor biology elucidation. Helomics is a comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a comprehensive personalized tumor profile utilizing a proprietary set of laboratory platforms that leverage both live and fixed cellular analysis to allow physicians to personally characterize malignant tumors. Helomics’ novel molecular and cellular markers and bioinformatics services are designed to support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer. Helomics is headquartered in Pittsburgh, Pennsylvania where the company maintains two CLIA-certified laboratories. For more information please visit: www.helomics.com. This release may contain forward-looking statements that involve risks and uncertainties. Market conditions and important factors that could cause actual results to differ materially from those communicated in any forward-looking statements information disclosed in presentations, conference calls or other public venues. We do not intend to update any forward-looking statements after the date of this press release.


News Article | November 29, 2016
Site: www.marketwired.com

VANCOUVER, BC--(Marketwired - November 28, 2016) - Med BioGene Inc. ("MBI") (TSX VENTURE: MBI) today wishes to announce the next phase in its corporate history. After extensive good-faith negotiations, MBI and Helomics Corporation (formerly known as Precision Therapeutics, Inc. or PTI) ("Helomics") have agreed to restructure their relationship. Effective immediately, the two companies have signed a Settlement Agreement which terminates the original licensing agreement put in place in 2011 by prior MBI management and relieves MBI of all the encumbrances associated with this agreement. These included, but were not limited to: Going forward, MBI is free to seek new licensing partners for not only the original MBI intellectual property but also the product enhancements made by PTI and, subsequently, Helomics. These included eliminating the need to use frozen tissue samples in favour of a liquid reagent transfer agent. In addition, MBI and its future licensees have the option to make use of the enhanced Helomics laboratory procedures for the actual processing of patient tissue specimens. Helomics has agreed to provide a license to MBI for the GeneFX Lung® product, covering all improvements made to the original MBI intellectual property by both PTI and Helomics during the term of the original licensing agreement. This represents an unrestricted grant of the work product resulting from two years of effort by PTI/Helomics to qualify and position MBI's intellectual property into a commercially-viable product, GeneFX Lung®. Furthermore, Helomics has agreed to forgive any and all indebtedness and royalty setoffs which would otherwise impact Med BioGene's ability to offer an unencumbered product proposition to new licensees. This has a cash value to MBI of US$1.15M which would otherwise have been deducted from royalty streams due to MBI. Helomics has agreed to very favorable royalty terms for its components of the evolved GeneFX Lung® product, and will provide a cash payment to MBI as part of the restructuring. Lastly, Helomics has agreed, in detailed terms, to support MBI's efforts to secure new licensees between now and the end of April 2017. These support services will be provided without any additional expense to MBI unless the work performed by Helomics exceeds specified hourly thresholds. All of these benefits to MBI are included in the terms and conditions of the final Settlement Agreement which terminates the original relationship between MBI and Helomics. MBI is immediately beginning the process of pursuing new licensing relationships for the GeneFX Lung® product. Taken as a whole, MBI management believes this new agreement is in the long term interests of the company and welcome the opportunity to continue working with Helomics personnel under this revised arrangement. As it previously announced, Helomics has initiated a corporate realignment that will shift the focus of its clinical products business while expanding into the clinical research market. This arrangement makes best use of their experience and expertise while freeing MBI to expediently seek a new sales and marketing partner with the capabilities and commercial plan it believes will be best suited to leverage the inherent value of GeneFX Lung®. MBI is a life science company based in Vancouver, British Columbia that is currently focused on managing the license and rights to GeneFX® Lung, a prognostic genomic based test procedure. MBI's common shares are listed for trading on the Exchange. For more information, please visit www.medbiogene.com This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable Canadian and United States legislation. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release


As an ICCRO, Helomics will provide product enhancement and clinical laboratory services, including comprehensive tumor profiling utilizing proprietary cell-based products and services, to strategic partners in the healthcare industries. The new business model will continue to offer and enhance the Company's clinical laboratory test menu, leveraging core scientific strengths, to provide physicians with relevant clinical information to better inform their patient treatment decisions. Now, patients who consent to sample testing at Helomics have the opportunity to further cancer research and the development of new therapies and diagnostic methods through Helomics' innovative technology development and industry partnerships. Gerald J. Vardzel Jr., will serve as the President and CEO. With over 25 years of industry experience, Mr. Vardzel has guided many innovative products through validation and commercialization, perfecting tried and tested strategies in both start-up and established settings. Mr. Vardzel said, "It is a pleasure for me to serve in this leadership role for Helomics. Helomics has a history of commitment to cutting-edge science to improve patient care. This corporate realignment will allow us to focus on partnerships with pharmaceutical and diagnostic companies to enable innovative therapies and diagnostic technologies in the marketplace." Helomics® is an integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. Helomics offers scientific and non-scientific product enhancement services and advanced clinical laboratory diagnostic tests to provide a customized solution to our client's specific product development needs. Helomics® is headquartered in Pittsburgh, Pennsylvania where the company maintains a state-of-the-art research laboratory and a CLIA-certified clinical laboratory. For more information please visit: www.helomics.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. For more information, please contact:


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