Rosetta Genomics Executes Binding Term Sheet to Acquire U.S. CLIA-Certified Lab to Expedite Commercialization of Diagno...(ialization of our first microRNA-based d...)

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. The move is an important part of the Company's commercialization and growth strategy.

The 5,000 square foot laboratory will complement two additional CLIA-certified labs in New York and California, Columbia University Medical Center's High Complexity Molecular Pathology Laboratory and University of California Irvine School of Medicine's CLIA lab, which are also expected to offer diagnostics based on Rosetta Genomics' microRNA technology.

Following the acquisition, Rosetta Genomics will be joined by thirty three employees from Parkway, including Dr. Raza Bokhari, MD., Parkway Clinical Laboratories' CEO, President and Chairman of the Board, who will be joining Rosetta Genomics' senior management as Chief Development Officer.

"We are excited to be joining Rosetta Genomics in developing ground-breaking microRNA-based diagnostics," said Dr. Raza Bokhari. "I am confident that the expertise of our laboratory, the sophisticated talent pool available in the mid-Atlantic region, and abundant life sciences opportunities present in the greater Philadelphia area will have a strong and meaningful impact on Rosetta Genomics' worldwide commercialization strategy."

Over the past several years, Dr. Bokhari developed outstanding expertise in aggregating and accelerating multi-specialty pathology companies.

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