Rosetta Genomics Executes Binding Term Sheet to Acquire U.S. CLIA-Certified Lab to Expedite Commercialization of Diagno... (2001 Dr. Bokhari took over Lakewood Path...)

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Rosetta Genomics Executes Binding Term Sheet to Acquire U.S. CLIA-Certified Lab to Expedite Commercialization of Diagnostic Tests

Date:6/11/2008

2001, Dr. Bokhari took over Lakewood Pathology Associates (LPA), a struggling multi-specialty surgical pathology laboratory in Lakewood, New Jersey. During his term as LPA President and CEO, the company's revenue grew tenfold, its client base expanded to more than 25 states and it created over 100 new jobs in the region. Dr. Bokhari sold LPA in May 2006 to a Chicago-based private equity fund, Waterstreet Healthcare Partners.

In April 2003, Dr. Bokhari acquired Parkway Clinical Laboratories (PCL), a small CLIA-certified laboratory in Bensalem, PA. He has been incubating PCL for the past five years. In that time, revenues have grown from $500k to an expected $3M in 2008 and its employee count has increased from less than ten (10) to more than thirty (30) today.

"This is a critical milestone in the path to commercializing Rosetta Genomics' microRNA-based diagnostics," noted Ronen Tamir, Executive Vice President of Marketing and Communications at Rosetta Genomics. "Parkway Clinical Laboratories' expertise in diagnostic testing, reimbursement, and regulatory compliance, will provide us with the freedom we need to market and sell our microRNA-based tests in the U.S. and around the world. We expect the acquisition of this CLIA-certified lab to significantly streamline the development process of our wide microRNA-based diagnostics pipeline."

The first three of Rosetta Genomics' microRNA-based tests expected to enter development and validation at Parkway's facility are:

- Squamous vs. 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 non

small cell lung cancer (NSCLC) include a black-box warning about

substantially higher
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Rosetta Genomics Executes Binding Term Sheet to Acquire U.S. CLIA-Certified Lab to Expedite Commercialization of Diagno...(2001 Dr. Bokhari took over Lakewood Path...)