QUEBEC CITY, Aug. 23 /CNW Telbec/ - DiagnoCure, Inc. (TSX: CUR), a life sciences company commercializing high-value cancer diagnostic tests and delivering laboratory services, announced today that it has retained the services of financial advisors JMP Securities to assist in determining the best option to drive the growth of its U.S.-based subsidiary, DiagnoCure Oncology Laboratories.
"After considering some of the best firms in the industry, we chose JMP Securities due to their track record and specialized expertise in the healthcare industry. Our goal was to secure the advisor who could give us the highest return in terms of long-term shareholder value," stated Yves Fradet, President and Chief Medical Officer of DiagnoCure, Inc.
"We are very excited to be partnering with JMP, and we are confident that their expertise will help us determine the most effective method to roll out our colorectal cancer disease management program. Our CLIA, CAP and NY accredited laboratory is well positioned to move forward with this new business model," stated Valerie Palmieri, President, DiagnoCure Oncology Laboratories.
DiagnoCure (TSX: CUR) is a life sciences company commercializing high-value cancer diagnostic tests and delivering laboratory services that increase clinician and patient confidence in making critical treatment decisions. DiagnoCure Oncology Laboratories, a subsidiary of DiagnoCure, Inc., launched in 2008 the Previstage(TM) GCC Colorectal Cancer Staging Test, the first GCC-based molecular test for the management of colorectal cancer. A major study published in the February 18, 2009, edition of the Journal of the American Medical Association demonstrated that GCC, to which DiagnoCure owns exclusive worldwide diagnostic rights, is the strongest independent predictor of colorectal cancer recurrence. More clinical studies are underway to confirm the clinical utility of the Previstage(TM) GCC test. The Company has a strategic alliance with Gen-Probe (NASDAQ: GPRO) for the development and commercialization of a second-generation prostate cancer test using PCA3, DiagnoCure's proprietary molecular marker. This test is available through laboratories in the U.S. and in Canada using PCA3 analyte specific reagents (ASR) from Gen-Probe, in Europe as the CE-marked PROGENSA(R) PCA3 in vitro assay. Gen-Probe recently completed a 500-patient clinical study aimed at securing FDA approval for the commercialization of the PROGENSA(R) PCA3 test in the U.S. and is on target to file a PMA by the end of the year. For more information, visit www.diagnocure.com.
This release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. By their very nature, forward-looking statements are based on expectations and hypotheses and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure's control. As a result, investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements regarding the outcome of research and development projects, clinical studies and future revenues are based on management expectations. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure's most recent Annual Information Form under the heading "Risk Factors". DiagnoCure undertakes no obligation to publicly update or revise any forward-looking statements contained herein unless required by the applicable securities laws and regulations.
SOURCE DiagnoCure Inc.
For further information: For further information: Investors: Chantal Miklosi, Chief Financial Officer, DiagnoCure Inc., (418) 527-6100, firstname.lastname@example.org; Media: Paule De Blois, Sr. Vice President, Operations, DiagnoCure Inc., (418) 527-6100