Rosetta Genomics, Ltd. (NASDAQ:ROSG) an innovative molecular
diagnostic company leveraging microRNAs as biomarkers, today announced
that its Philadelphia-based laboratory has passed the survey for CLIA
(Clinical Laboratory Improvement Amendments) certification in
California, Rhode Island and Maryland. This brings the number of states
permitting commercial molecular diagnostics tests at Rosetta
Laboratories to 48. Rosetta also announces that on June 11th
it filed its audited financial statements with the U.S. Securities and
Exchange Commission on Form 6-K. The financial statements provide
additional information with respect to the terms of the license and
collaboration agreement with Prometheus Laboratories, including the
potential for Rosetta to receive up to $17 million in research and
development, milestone and other payments in addition to royalties on
the sale of the tests.
Amir Avniel, president and chief executive officer of Rosetta said, “We
have been making excellent progress in our goal to become a fully
commercialized molecular diagnostics company. The addition of
California, Rhode Island, and Maryland to the list of states in which
Rosetta Laboratories is able to market its tests is an important
achievement.”
About Rosetta Genomics
Rosetta Genomics is a leading molecular diagnostics company developing
and commercializing molecular diagnostic products based on its
proprietary microRNAs. Rosetta Genomics is working to develop early
detection cancer screening products, including a colon cancer screening
test. Rosetta performs its commercial molecular diagnostics tests at
Rosetta Genomics Laboratories in Philadelphia.
About MicroRNAs
MicroRNAs (miRNAs) are recently discovered, naturally occurring, small
RNAs that act as master regulators and have the potential to form the
basis for a new class of diagnostics and therapeutics. Since many
diseases are caused by the abnormal activity of proteins, the ability to
selectively regulate protein activity through microRNAs could provide
the means to treat a wide range of human diseases. In addition,
microRNAs have been shown to have different expression in various
pathological conditions. As a result, these differences may provide for
a novel diagnostic and therapeutic strategy for many diseases.
Forward-Looking Statements
Various statements in this release concerning Rosetta’s future
expectations, plans and prospects, including without limitation,
statements relating to the role of microRNAs in human physiology and
disease, the potential of microRNAs in the development of therapeutics
and diagnostic products, 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
under “Key Information - Risk Factors” in Rosetta’s Annual Report on
Form 20-F for the year ended December 31, 2007 on file with the
Securities and Exchange Commission. In addition, any forward-looking
statements represent Rosetta’s views only as of today 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.
Company Contact:
Rosetta Genomics
Ron Kamienchick, 646-509-1893
investors@rosettagenomics.com
or
Investor
Contacts:
Lippert/Heilshorn & Associates
Kim Sutton
Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Bruce
Voss, 310-691-7100
bvoss@lhai.com
