Navigation Links
Arrayit Diagnostics to Bring First Pre-Symptomatic Ovarian Cancer Blood Test to Multi-Billion Dollar Diagnostic Market in 2010
Date:12/17/2009

HOUSTON, Dec. 17 /PRNewswire-FirstCall/ -- John Howell, CEO of Arrayit Diagnostics, Inc., a majority-owned subsidiary of Arrayit Corporation (OTC Bulletin Board: ARYC), today formally commented on the anticipated timeline for commercialization of its microarray-based OvaDx(TM) Pre-Symptomatic Ovarian Cancer Blood Test, which is currently advancing through late-stage development - the rights to which have been assigned exclusively to the Company by Arrayit Corporation.

Howell stated, "In response to numerous inquiries received from the medical, research and investor communities following last week's exciting news announcements, we are pleased to confirm that Arrayit Diagnostics will file for Pre-Market Approval of our early stage ovarian cancer test as an 'In Vitro Diagnostic Multivariate Index Assay' shortly after the end of this year. Notwithstanding any unexpected delays with the 510(k) review and approval process, we are optimistic that we will be in position to begin marketing the test for research purposes late in the first quarter of 2010, followed by official commercial launch to the medical diagnostics industry as early as the third quarter of 2010."

Continuing, Howell added, "With plans to market the test at a cost of approximately $350 per test kit - and presuming we achieve our predetermined time-to-market objectives, we are confident that revenue of $4-$5 million is an attainable sales goal for 2010. Moreover, given that we estimate the total market for a viable early stage ovarian cancer screening test in the U.S., Japan and Europe could collectively represent use of up to 175 million kits per year; beyond 2010, annual revenues for Arrayit Diagnostics could ultimately reach into the hundreds of millions, and perhaps even billions, of dollars."

Ovarian cancer presents with largely non-specific symptoms during its initial stages of progression, however there is currently no adequate screening or diagnostic test for early stage detection. As a result, most ovarian cancers are diagnosed only when later stage symptoms manifest and the disease has metastasized to other parts of the body. Consequently, the five-year survival rate for late stage diagnosis is less than 20%, which compares to an approximate 90% survival rate if the disease is identified at the earliest stages. According to the National Cancer Institute, it is estimated that 21,550 women will be diagnosed with and 14,600 women will die of cancer of the ovary in 2009 in the United States. Moreover, based on rates from 2004-2006, 1.4% of women born today will be diagnosed with ovarian cancer at some point during their lifetime.

About Arrayit Corporation

Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. It now offers over 650 products to a customer base of more than 10,000 laboratories worldwide, including almost every major university, pharmaceutical and biotechnology company, major agricultural and chemical companies, government agencies, national research foundations and many private sector enterprises. Please visit www.arrayit.com for more information.

About Arrayit Diagnostics, Inc.

Houston-based Arrayit Diagnostics, Inc., a majority-owned subsidiary of Arrayit Corporation, is actively engaged in developing and commercializing a series of proprietary microarray-based diagnostic tests that provide for early detection of cancers, neurodegenerative diseases and other chronic and severe disease states.

Safe Harbor Statement

Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Arrayit and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K/A for the fiscal year ended December 31, 2008 and Form 10-Q/A for the fiscal first quarter ended March 31, 2009, Form 10-Q/A for the fiscal second quarter ended June 30, 2009 and Form 10-Q for the fiscal third quarter ended September 30, 2009.


                       FOR MORE INFORMATION, PLEASE CONTACT:
                       Elite Financial Communications Group
                Dodi Handy, President and CEO (Twitter: @dodihandy)
     For Media Inquiries: Kathy Addison, Director, Elite Media Group (Twitter:
                                   @kathyaddison)
                    407-585-1080 or via email at ARdx@efcg.net

SOURCE Arrayit Diagnostics, Inc.


'/>"/>
SOURCE Arrayit Diagnostics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Dilon Diagnostics Gamma-Guided Localization System Cleared by FDA
2. PLUS Diagnostics Launches Hematology/Oncology Diagnostic Services
3. Reportlinker Adds Point of Care Diagnostics
4. Reportlinker Adds Global In Vitro Diagnostics Market Analysis and Forecasts to 2015
5. Enigma Diagnostics Expands Its US and European Executive Management Teams
6. H1N1 Pandemic May Have Peaked in October in U.S., According to Quest Diagnostics
7. Quest Diagnostics Announces Final Tender Offer Results
8. New Hair Data Validate Sharp Downward Trend in Cocaine and Methamphetamine Positivity in General U.S. Workforce, According to Quest Diagnostics Drug Testing Index(TM)
9. Quest Diagnostics to Speak at the Lazard Capital Markets 6th Annual Healthcare Conference
10. Quotient Biodiagnostics Signs MED Alliance Group, Inc. as Exclusive Distributor in Midwest for Line of Transfusion Diagnostics
11. Quotient Biodiagnostics Receives U.S. Food & Drug Administration Clearance to Enter U.S. Transfusion Diagnostics Market
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... While it’s often important to take certain ... inventor from Austin, Texas, has identified a solution. , She developed a prototype for ... lighting. As such, it eliminates the need to turn on a light when taking ...
(Date:10/13/2017)... ... October 13, 2017 , ... The International Association of Eating ... excellence for the field of eating disorders, announces the opening of early registration ... Orlando, Florida at the Omni Resort at ChampionsGate. , The annual ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... PharmD ‘17, and Jennifer Huggins, PharmD ’17, along with clinical associate professor ... prevention of cardiovascular diseases during the 15th Annual Women’s Health Conference. The ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton Lakes ... a mock evacuation of the facility as part of a disaster drill on October ... Hose EMS and Shelton City Emergency Manager, as well as the Connecticut Long ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... The Visiting ... Day Market. Featuring a collection of specialty vendors and unique items from across the ... and quality-focused health and wellness services offered by the VNA. The boutique will ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)...  NDS received FDA 510(k) clearance in May 2017 for its ... specifically designed for endoscopy environments. An innovative secondary monitor solution, ZeroWire ... to support the improvement of patient outcomes, procedural efficiency, and the ... ... ...
(Date:10/4/2017)... Oct. 4, 2017  South Korean-based healthcare product Development ... aide "cprCUBE" on Kickstarter. The device will educate the ... arrests with better efficiency compared to the dated and ... feedback on efficacy of the compression for a more ... a goal to raise $5,000. ...
(Date:10/2/2017)... 2017  Eli Lilly and Company (NYSE: ... third quarter of 2017 on Tuesday, October 24, 2017. ... day with the investment community and media to further ... call will begin at 9 a.m. Eastern time. Investors, ... webcast of the conference call through a link that ...
Breaking Medicine Technology: