May 10, 2013
/PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces receipt of
as payment in full from the negotiated settlement announced on
April 18, 2013
with Sanra Laboratories (Sanra) in connection with the Company's sale to Sanra of Parkway Clinical Laboratories (Parkway).
July 22, 2008
, through Rosetta Genomics Inc., the Company purchased all of the shares of Parkway Clinical Laboratories, Inc., a privately held
corporation owning a CLIA-certified laboratory. With its CLIA certification, Parkway helped Rosetta Genomics to obtain CLIA certification for its laboratory in Philadelphia. Parkway remained an indirect, wholly owned subsidiary until
May 18, 2009
, when the Company sold Parkway to Sanra for up to
, to be paid as a fixed percentage from the revenues over six years.
assays are a series of microRNA-based diagnostic testing services offered by Rosetta Genomics. miRview
mets² accurately identifies the primary tumor type in primary and metastatic cancer including cancer of unknown or uncertain primary (CUP). miRview
meso diagnoses mesothelioma, a cancer connected to asbestos exposure. miRview
lung accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. miRview
kidney accurately classifies the four most common kidney tumors: clear cell renal cell carcinoma (RCC), papillary RCC, chromophobe RCC and oncocytoma. miRview
assays are designed to provide objective diagnostic data; it is the treating physician's responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the miRview
mets² assay, 60,000 from miRview
meso, 65,000 from miRview
kidney and 226,000 patients from miRview
lung. The Company's assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world. For more information, please visit
. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000 ext. 309.
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics. Founded in 2000, Rosetta's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta's miRview® testing services are commercially available through its
-based CAP-accredited, CLIA-certified lab. Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, Rosetta's development or commercialization of molecular diagnostics, the market acceptance of Rosetta's miRview
assays, particularly miRview
, Rosetta's capitalization of its microRNA platform, Rosetta's patent position and Rosetta's development of personalized medicine products and services 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 in the "Risk Factors" section of Rosetta's Annual Report on Form 20-F for the year ended
, 2012 as filed with the SEC. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release 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.
, President & CEO (215) 382-9000, ext. 326
LHA Anne Marie Fields (212) 838-3777
or Bruce Voss (310) 691-7100