TORONTO, May 2 /PRNewswire-FirstCall/ - GeneNews Limited (TSX: GEN), a company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management, today reported operational and financial results for the first quarter ended March 31, 2008.
"During the quarter, we achieved several of the key milestones
necessary to support the commercialization of our first product,
ColonSentry(TM), a risk stratification test for colorectal cancer," said
Dr. K. Wayne Marshall, President and CEO of GeneNews. "We remain on track
to launch the laboratory-developed test (LDT) version of ColonSentry(TM) in
the third quarter of 2008. The test will be administered as a service by
our in-house clinical reference lab located at our headquarters just north
of Toronto, Canada. This novel test will initially target the estimated 1.5
million people over the age of 50 in the Greater Toronto Area who should be
screened for colorectal cancer, the vast majority of whom do not currently
comply with screening guidelines."
Highlights in the first quarter:
- Reported positive results from a validation study of a panel of
six colorectal cancer biomarkers, confirming (p<0.05) that
the panel was able to stratify a population with average risk for
colorectal cancer into three defined risk groups (Increased, Average,
and Decreased Probability). The results were presented in a Late
Breaking Abstract at the annual meeting of the American Association
of Cancer Research (AACR), held in San Diego, California.
- Obtained ISO 13485:2003 certification for the design and development
of in-vitro diagnostic (IVD) test kits for the management of
colorectal disease status in a laboratory setting, following a
successful audit in December 2007.
- Expanded its Colorectal Cancer Clinical Advisory Board with the
|SOURCE GeneNews Limited|
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