Health Discovery Corporation Awarded A $244,479.25 Qualifying Therapeutic Discovery Project (QTDP) Grant Under The Patient Protection And Affordable Care Act Of 2010
Health Discovery Corporation (OTCBB: HDVY) is pleased to announce that it has been awarded $244,479.25 by the United States government under the Qualifying Therapeutic Discovery Project (QTDP) Program to advance the development of the company's SVM and RFE-SVM technology. The QTDP grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services to have reasonable potential to result in new therapies, to treat areas of unmet medical need, or to prevent, detect, or treat chronic or acute diseases and conditions, or to reduce long-term health care costs in the United States, or to significantly advance the goal of curing cancer
“Our patented and award-winning technology is creating innovative molecular diagnostic tests, such as our urine-based 4-gene biomarker discovery for clinically significant prostate cancer,” said Stephen D. Barnhill, M.D., Chairman and CEO, Health Discovery Corporation. “HDC's new 4-gene prostate cancer test has been shown to have a 90% Sensitivity (for finding clinically significant, grade 3 or higher prostate cancer cells) and a 97% Specificity (for finding non-cancerous cells) and was published (August 2009) in the peer-reviewed publication, UroToday International,” said Dr. Barnhill.
Health Discovery Corporation's new urine-based 4-gene prostate cancer test is licensed on a per test royalty, worldwide co-exclusive basis to Quest Diagnostics Incorporated (NYSE: DGX) and Abbott (NYSE: ABT).
“In addition, we are using our patented technology to develop a new molecular test for breast cancer under a world-wide exclusive licensing and development agreement with Quest Diagnostics Incorporated (NYSE: DGX) and Smart Personalized Medicine, LLC.“We are also working with Dr. Avram Cooperman and his team at the Pancreas, Biliary and Liver Surgery Center of New York at Beth Israel Medical Center and other locations, to develop new molecular diagnostic tests for the early detection of pancreatic cancer, as well as to complete validation of our molecular diagnostic test for colon cancer.
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