Radient Pharma Enters Into Distribution Agreement to Launch Sales of Onko-Sure(TM) IVD Cancer Test in Israel
06 10월 2009 - 10:30PM
PR Newswire (US)
TUSTIN, Calif., Oct. 6 /PRNewswire-FirstCall/ -- Radient
Pharmaceuticals Corporation (NYSE - AMEX: RPC), a US-based
pharmaceutical company, announced today through its wholly-owned
subsidiary AMDL Diagnostics, Inc. (ADI), it has entered into a
two-year distribution agreement with Tarom Applied Technologies
Ltd. for the marketing and sales of its Onko-Sure(TM) in vitro
diagnostic (IVD) cancer test. Tarom Applied Technologies Ltd. is an
established, privately-owned distributor of products in the
biomedical sector with more than 20 years of exclusive
representation for OEM diagnostic systems and reagents, biotech and
research products and veterinary systems. The company is the
exclusive distributor to the Israeli market and sells outside of
Israel to leading worldwide manufacturers in the diagnostic and
biomedical fields. The company's customers include medical centers
and hospitals, clinical laboratories, universities, Ministry of
Health labs, and biotech and pharmaceutical companies. Tarom also
works directly with the Israeli Ministry of Health on licensing
issues and other related matters. Today's agreement marks the
latest business milestone in the Radient Pharmaceuticals'
commercialization strategy for Onko-Sure(TM) (previously marketed
as AMDL-ELISA DR-70® IVD cancer test). Under the terms of the
partnership agreement, Tarom will market and distribute
Onko-Sure(TM) to medical centers, hospitals, clinical laboratories,
university labs, and Ministry of Health labs throughout Israel.
This includes implementing a marketing strategy to drive product
awareness, engage heathcare decision makers and thought-leaders,
lab directors, physicians, and patients and healthcare consumers
throughout Israel. "We are pleased with the addition of Tarom
Applied Technologies to Radient Pharmaceuticals' list of product
distributors," commented Mr. Douglas MacLellan, Chairman and CEO of
Radient Pharma. "Through this agreement we are entering a highly
opportunistic market with one of the most proven distributors in
this region. Tarom has the expertise to rapidly commercialize
Onko-Sure(TM) over the course of a renewable two-year period. This
supports Radient Pharmaceuticals' highest priority - to create
significant value for our shareholders while providing a diagnostic
solution and product leadership in what is one of the most critical
areas of life sciences and healthcare - in vitro cancer
diagnostics." With the exception of heart disease, cancer causes
more deaths than any other medical condition in the world.
According to the World Health Organization (WHO), cancer is rapidly
becoming the leading cause of death worldwide and is expected to
overtake heart disease by 2010. Onko-Sure(TM) is a simple,
non-invasive IVD blood test used for the detection and/or
monitoring of at least 14 different types of cancer. According to
industry research firm Visiongain, "In vitro diagnostics constitute
an important, growing healthcare industry and market and one that
is increasingly biotechnological and closely aligned with pharma.
We believe from 2009 onwards, worldwide investment in IVD testing
will increase due to greater awareness of tests' availability and
usefulness; more-widely applicable, accurate and usable tests
emerging; and increasing appreciation of early diagnosis, both for
patient quality of life and cost efficiencies." In 2008 the global
IVD market generated sales of over $40 billion and Visiongain
predicts the market will generate nearly $60 billion by 2014.
Currently, Onko-Sure(TM) is used as an IVD pan cancer screening and
monitoring tool in Taiwan, Korea, India, and Vietnam. It is a US
FDA cleared IVD cancer test for the monitoring of colorectal cancer
(CRC). The test is also approved by Health Canada for the detection
and monitoring of lung cancer in Canada. For additional information
on Radient Pharmaceuticals, please visit the Company's corporate
Web site at http://www.radient-pharma.com/. For Investor Relations
information contact Kristine Szarkowitz at or 1.206.310.5323. About
Radient Pharmaceuticals: Headquartered in Tustin, California, is an
integrated pharmaceutical company devoted to the research,
development, manufacturing, and marketing of diagnostic,
pharmaceutical, nutritional supplement, and cosmetic products.
Forward Looking Statements: Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: The statements contained
in this document include certain predictions and projections that
may be considered forward-looking statements under securities law.
These statements involve a number of important risks and
uncertainties that could cause actual results to differ materially
including, but not limited to, the performance of joint venture
partners, as well as other economic, competitive and technological
factors involving the Company's operations, markets, services,
products, and prices. With respect to Radient Pharmaceuticals
Corporation, except for the historical information contained
herein, the matters discussed in this document are forward-looking
statements involving risks and uncertainties that could cause
actual results to differ materially from those in such
forward-looking statements. DATASOURCE: Radient Pharmaceuticals
Corporation CONTACT: Kristine Szarkowitz, Director-Investor
Relations, Radient Pharma, +1-206-310-5323, Web Site:
http://www.radient-pharma.com/
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