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Rosetta Genomics Completes Acquisition of Parkway Clinical Laboratories Inc.
Date:7/24/2008

REHOVOT, Israel and JERSEY CITY, New Jersey, July 24 /PRNewswire-FirstCall/ -- Rosetta Genomics Ltd. (Nasdaq: ROSG), a leader in the development of microRNA-based diagnostics and therapeutics, announced today that it has successfully completed the acquisition of Parkway Clinical Laboratories Inc. ("Parkway"), a privately-held company owning a CLIA-certified lab located in Bensalem, Pennsylvania, for an aggregate purchase price of $2,900,000, consisting of $1,900,000 in cash and $1,000,000 of Rosetta's ordinary shares. An additional $300,000 will be payable upon the achievement of certain milestones. The lab owned by Parkway is an CLIA-certified clinical reference laboratory with an expected $2.7M in revenues and break-even operating income in 2008.

The acquisition is expected to allow Rosetta Genomics to expedite development and validation of its microRNA-based diagnostic tests both in the U.S. and worldwide. In addition, ownership of the CLIA-certified lab will allow Rosetta Genomics to control the commercialization of its diagnostics, including marketing, sales, and reimbursement strategy. As previously disclosed, the first three of Rosetta Genomics' microRNA-based tests expected to enter development and validation at Parkway's facilities this year:

- Differentiating squamous from non-squamous non-small cell

lung cancer- This test is designed to differentiate squamous from

non-squamous non-small cell lung cancer (NSCLC) using a single

microRNA. The ability of physicians to accurately differentiate

squamous from non-squamous NSCLC is an important treatment guide.

Certain angiogenesis inhibitors for non-squamous NSCLC include a

black-box warning about substantially highe
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SOURCE Rosetta Genomics Ltd
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Related biology technology :

1. Rosetta Genomics to Present at Collins Stewart Fourth Annual Growth Conference
2. Rosetta Genomics Announces Plans to Recruit a New Chief Financial Officer
3. Rosetta Genomics Announces Three New Diagnostic Tests to Enter Development
4. Rosetta Genomics Executes Binding Term Sheet to Acquire U.S. CLIA-Certified Lab to Expedite Commercialization of Diagnostic Tests
5. /C O R R E C T I O N -- Rosetta Genomics Ltd/
6. Rosetta Genomics Reports First Quarter 2008 Financial Results
7. Rosetta Genomics Announces Conference Call and Webcast of First Quarter Financial Results
8. Rosetta Genomics Announces Expansion of its MicroRNA Intellectual Property Estate
9. Rosetta Genomics to Present Multiple Posters at the Annual American Association of Cancer Research (AACR) Conference
10. Accurate Identification of Tumor Origin Using MicroRNAs is Published by Rosetta Genomics Scientists and Collaborators in Nature Biotechnology
11. Rosetta Genomics Announces Allowance of Two Additional microRNA Patents

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