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.

“Other products in our pipeline include new test development for interpreting Pap Smears for cervical cancer, automated interpretation of digital cytogenetics, flow cytometry, and circulating tumor cells for micrometastasis, as well as, an iPhone App for determining the risk of melanoma using our SVM technology on submitted images. We are also developing platforms to allow for the integration of clinical, pathological and radiological data to advance the goal of personalized medicine, among other activities,” said Dr. Barnhill.

"This federal grant is terrific news for cancer patients and for the future of personalized medicine,” said Kimberly Egan, Partner and Co-Chair, Health Care Sector, DLA Piper, LLP, Washington, DC, who represents Health Discovery Corporation on FDA and other regulatory matters.

“The grant allows Health Discovery Corporation to continue to develop its innovative molecular diagnostic tests for prostate and breast cancer, which will lead, we believe, to new therapies for these and other devastating forms of cancer," said Attorney Egan.

Earlier this year, Health Discovery Corporation was awarded the prestigious MICO Award for our intellectual property portfolio. The word “mico” is Latin for “to shine.” Unbeknownst to the Health Discovery Corporation, San Francisco, Calif.-based MDB Capital Group, LLC, spent millions of dollars and hours creating  PatentVest, a proprietary intellectual property analytical tool. MDB Capital rigorously analyzed the intellectual property portfolios of 1,600 publicly-traded, small cap companies to determine which ones had the most valuable and disruptive technology. Health Discovery Corporation was honored to be chosen by MDB Capital as the recipient of their MICO Award.

Health Discovery Corporation has 81 U.S. and foreign patents, including 47 issued and 34 pending patents, in the state-of-the-art pattern recognition technology known as Support Vector Machines, Recursive Feature Elimination and Fractal Genomics Modeling, and the discoveries made from these technologies. In addition, our technology is used in the discovery of knowledge from large and/or complex data sets.

About Health Discovery Corporation

Health Discovery Corporation is a molecular diagnostics company that uses advanced mathematical techniques to analyze large amounts of data to uncover patterns that might otherwise be undetectable. It operates primarily in the emerging field of personalized medicine where such tools are critical to scientific discovery. Its primary business consists of licensing its intellectual property and developing its own product line of biomarker-based diagnostic tests that include human genes and genetic variations, as well as gene, protein, and metabolic expression differences and image analysis in digital pathology and radiology. For more information, see  www.healthdiscoverycorp.com.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding future performance, opportunities and investments, and anticipated results in general. From time to time the Company may make other forward-looking statements relating to other matters, including without limitation, commercialization plans and strategic partnerships. Actual results may differ materially due to a variety of factors, including, among other things, the acceptance of our approach to applying mathematics computer science and physics into the disciplines of biology, organic chemistry and medicine and our products and technologies associated with those approaches, the ability to develop or commercialize new drugs, therapies or other products based on our approaches, and other factors set forth from time to time in the Company’s Securities and Exchange Commission filings.

All forward-looking statements and cautionary statements included in this document are made as of the date hereof based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement or cautionary statement.

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX