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NeoGenomics Enters into Strategic Supply Agreement with Abbott for Development of a Melanoma Cancer Test
Date:7/24/2009

rise significantly. We are very pleased to have this opportunity to research, develop and offer a new genetic test to help clients better diagnose and treat patients who may suffer from melanoma," said Douglas VanOort, Chairman and Chief Executive Officer for NeoGenomics.

With more than one million skin cancers diagnosed annually, distinguishing melanoma from other less severe forms of skin cancer is vital. In particular, it has been reported that current diagnostic tools and techniques for detecting cutaneous melanoma can be especially difficult in cases arising in association with a nevus (mole), and that 30-50% of cutaneous melanomas occur with an associated nevus. A FISH test for melanoma has the potential to improve existing diagnostic techniques in cases that are ambiguous, borderline or difficult to diagnose. NeoGenomics estimates that this new melanoma test represents a $50-$100 million annual revenue opportunity in the next 4-6 years.

"Influencing the existing cancer testing market in the US is a challenge, but all of us here at NeoGenomics believe the timing, scientific literature and market conditions are right for this new melanoma FISH test," said Robert Gasparini, President and Chief Scientific Officer of NeoGenomics. "We believe this new melanoma FISH test will complement our existing portfolio of FISH products. We also believe dermatopathologists will have a high level of interest in offering this test to their customers."

While this new test is still in the development phase, NeoGenomics currently anticipates bringing a FISH test to market in early 2010 after completing a rigorous validation process. In the event that Abbott develops and obtains FDA approval for its own FISH-based melanoma test, the Strategic Supply Agreement provides a means by which NeoGenomics may offer the FDA-approved test to its customers instead of the laboratory developed test being offered by NeoGenomics
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SOURCE NeoGenomics, Inc.
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