Navigation Links
Rosetta Genomics Reaches Settlement Agreement with Sanra Laboratories in Connection with Previous Sale of Parkway Clinical Laboratories
Date:4/18/2013

PHILADELPHIA and REHOVOT, Israel, April 18, 2013 /PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, today announced that the Company has negotiated a settlement with Sanra Laboratories ("Sanra") in connection with the previous sale of Parkway Clinical Laboratories ("Parkway") by Rosetta Genomics to Sanra.  Under the agreement, Sanra will undertake their best efforts to pay Rosetta Genomics $625,000, in addition to all sums previously paid by them, for total consideration of all their obligations according to the stock purchase agreement entered into in May 2009, of which amount Sanra has already paid $10,000 as an upfront payment. 

On July 22, 2008, through Rosetta Genomics Inc., the Company purchased all of the shares of Parkway Clinical Laboratories, Inc., a privately held Pennsylvania corporation owning a CLIA-certified laboratory.  With its CLIA certification, Parkway helped Rosetta Genomics to obtain CLIA certification for its laboratory in Philadelphia, Pennsylvania.  Parkway remained an indirect, wholly-owned subsidiary until May 18, 2009, when the Company sold Parkway to Sanra for up to $2.5 million, to be paid as a fixed percentage from the revenues over six years. 

About miRview® Testing Services
miRview® assays are a series of microRNA-based diagnostic testing services offered by Rosetta Genomics. miRview® mets² accurately identifies the primary tumor type in primary and metastatic cancer including cancer of unknown or uncertain primary (CUP). miRview® meso diagnoses mesothelioma, a cancer connected to asbestos exposure.  miRview® lung accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. miRview® kidney accurately classifies the four most common kidney tumors: clear cell renal cell carcinoma (RCC), papillary RCC, chromophobe RCC and oncocytoma.  miRview® assays are designed to provide objective diagnostic data; it is the treating physician's responsibility to diagnose and administer the appropriate treatment.  In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the miRview® mets² assay, 60,000 from miRview® meso, 65,000 from miRview® kidney and 226,000 patients from miRview® lung. The Company's assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world. For more information, please visit www.mirviewdx.com. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000 ext. 309.

About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics.  Founded in 2000, Rosetta's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta's miRview® testing services are commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab.  Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.

Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to Rosetta's  receipt of funds from Sanra, Rosetta's development or commercialization of molecular diagnostics, the market acceptance of Rosetta's miRview® assays, particularly miRview® mets2, Rosetta's capitalization of its microRNA platform, Rosetta's patent position and Rosetta's development of personalized medicine products and services constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the "Risk Factors" section of Rosetta's Annual Report on Form 20-F for the year ended December 31, 2012 as filed with the SEC. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.

Company Contact: 
Rosetta Genomics                                         
Ken Berlin , President & CEO                                 
(215) 382-9000, ext. 326                                         
investors@rosettagenomics.com

Investor Contacts:                          
LHA                                      
Anne Marie Fields
(212) 838-3777
afields@lhai.com
or
Bruce Voss
(310) 691-7100
bvoss@lhai.com


'/>"/>
SOURCE Rosetta Genomics Ltd.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Rosetta Genomics Announces Poster Presentations at AACR Annual Meeting 2013
2. Rosetta Genomics Expands Management Team, Laboratory Capacities and Commercial Operations
3. Rosetta Genomics Receives 2012 North American Entrepreneurial Company of the Year Award by Frost & Sullivan
4. Rosetta Genomics Announces Closing of Public Offering of 5.5 Million Ordinary Shares
5. Rosetta Genomics Pays Off Secured Loan and Reclaims Unencumbered Rights to All Assets
6. Real Time Genomics and Omicia Partner on a Platform for Integrated Genomic Analysis for Childhood Disease
7. Venter Institute-Led Team Recovers and Sequences Genome of Periodontal Pathogen from Biofilm in Hospital Sink using Single-Cell Genomics
8. Squished bug genomics: Insect goo aids biodiversity research
9. BGI-Shenzhen Completes Acquisition of Complete Genomics
10. Genomics Data Management Leader Annai Systems Offers Shortcut to Analysis
11. Real Time Genomics Announces Formation of its Scientific Advisory Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/22/2017)... , ... February 22, 2017 , ... ... and development of precision treatments for neurodegenerative diseases, today announced it has issued ... ProMIS approach.” This is one of a series of commentaries from ProMIS’s scientific ...
(Date:2/22/2017)... Feb. 22, 2017 Aethlon Medical, Inc. (Nasdaq: ... a study that validated the ability of the Aethlon ... with increased mortality in immune-suppressed sepsis patients and also ... The objective of the study was to validate ... Epstein-Barr virus (EBV) and Herpes Simplex virus 1 (HSV1) ...
(Date:2/21/2017)... , Feb. 21, 2017 Synthetic Biologics, Inc. ... preserve the microbiome to protect and restore the health of patients, ... ended December 31, 2016 on Thursday, March 2, 2017, and to ... The dial-in information for the call is as follows: ... ...
(Date:2/21/2017)... ... 21, 2017 , ... Cancer diagnostics workflow solution provider Inspirata, ... team to lead the development and commercialization of its Cancer Information Data Trust ... and treatment of cancer. The CIDT addresses the need for curated and structured ...
Breaking Biology Technology:
(Date:2/8/2017)... , Feb. 7, 2017 The biometrics ... by the confluence of organizations, desires to better ... knowledge-based systems (password and challenge questions), biometrics is ... government systems. The market is driven by use ... between consumer and enterprise uses cases, with consumer-facing ...
(Date:2/6/2017)... 6, 2017 According to Acuity Market ... border authorities to continue to embrace biometric and ... 2143 Automated Border Control (ABC) eGates and 1436 ... more than 163 ports of entry across the ... achieving a combined CAGR of 37%. APC Kiosks ...
(Date:2/2/2017)... TOKYO , Feb. 1, 2017  Central ... innovative and meaningful advances worldwide, The Japan Prize ... Japan Prize, who have pushed the envelope in ... Information and Communication. Three scientists are being recognized ... outstanding achievements that not only contribute to the ...
Breaking Biology News(10 mins):