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Panacea Announces the Availability of PC Detect(sm) for Prostate Cancer Screening

Panacea Pharmaceuticals, Inc. announced today that PC Detect(sm), the Company's prostate cancer screening test, is now available from Panacea Laboratories. PC Detect(sm) is a simple blood test, which is recommended as an adjunct to the prostate specific antigen (PSA) test and the digital rectal examination (DRE), the currently recommended prostate cancer screening methods.

The addition of PC Detect(sm) to the current screening methods is expected to improve the diagnosis of prostate cancer among men with prostate specific antigen (PSA) values below the currently recommended level for prostate biopsy. Panacea Laboratories, a division of Panacea Pharmaceuticals, is certified under the Clinical Laboratory Improvement Amendments of 1988 (CLIA).

The blood sample can be ordered by any physician and sent to Panacea for testing. The Company anticipates submission of a Pre-Market Application (PMA) to the U.S. Food and Drug Administration later in 2007 to facilitate development of a PC Detect(sm) kit, which will be commercialized through clinical laboratories around the country.

Prostate cancer is currently the most prevalent form of cancer in men and the second leading cause of male cancer deaths in the United States. The standard-of-care screening tools for prostate cancer used by physicians to determine whether to refer a patient for a prostate biopsy include the prostate-specific antigen (PSA) and the digital rectal examination (DRE).

The American Cancer Society (ACS) recommends that a PSA blood test and DRE be performed annually in men > 50 years old. However, the predictive value of an elevated PSA and/or an abnormal DRE is limited. PSA is a tissue-specific protein and has been shown to be elevated in patients with benign prostatic conditions as well as in patients with prostate cancer. About 25% of men recommended for prostate biopsy with a PSA of 4-10 ng/mL will be found to have cancer on biopsy, and a PSA > 4.0
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