TUSTIN, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Radient Pharmaceuticals Corporation (NYSE Amex: RPC), a US-based pharmaceutical company through its wholly-owned subsidiary AMDL Diagnostics, Inc. (ADI) announced today it has entered into an exclusive 5-year marketing and distribution agreement with Grifols USA, LLC. Under the terms of the agreement, Grifols USA, LLC will market and sell ADI's DR-70 Onko-Sure cancer test for the monitoring of colorectal cancer (CRC) to hospitals, clinical labs, clinics, and other healthcare organizations throughout the US.
Grifols is a publicly-traded, multinational healthcare products manufacturer and distributor. The company has business operations in more than 90 countries worldwide focused on the research and development, manufacturing, distribution, marketing, sales, and customer support for a diverse range of in-house and 3rd party healthcare products and services, now including ADI's DR-70 Onko-Sure cancer test.
The agreement is the latest milestone ADI has achieved in support of the company's aggressive commercialization strategy for Onko-Sure. According to the agreed upon terms, Grifols USA, LLC has the rights to market and distribute ADI's Onko-Sure cancer test specifically for the monitoring of colorectal cancer in the US. This includes developing and implementing a marketing strategy to drive product awareness; educate clinical laboratories and physicians; and generate product sales.
According to Patricia Silver, General Manager, US Diagnostic Division at Grifols USA, LLC, "We are intensely dedicated to providing hospitals, labs and clinics with highly innovative and in-demand products and services which improve the level and quality of patient health care around the world, and we are very pleased to support the commercialization of ADI's Onko-Sure cancer test in the US. ADI has developed a new option to assist physicians and their patients in monitoring the recurrence of cancer and we are excited to bring it to the marketplace."
"We are extremely pleased to announce a top-tier distribution partnership for our Onko-Sure cancer test in the USA," commented Mr. Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals & ADI. "We are making great progress on our commercialization plan for Onko-Sure(TM), and with this latest agreement, doing so with one of the most recognized, respected and experienced companies in the healthcare sector. We are dedicated to establishing a strong, long-lasting and highly successful relationship with the Grifols team - one that will help make Onko-Sure(TM) the standard in cancer testing and deliver direct value to our customers, patients, and shareholders."
With the exception of heart disease, cancer causes more deaths than any other medical condition in the world. According to the World Health Organization (WHO), cancer is rapidly becoming the leading cause of death worldwide and is expected to overtake heart disease by 2010. Colorectal cancer is the third most common cancer worldwide and the second leading cause of cancer deaths irrespective of gender in the US, and one of the most commonly diagnosed of all cancers. Last year, there were approximately 151,000 new cases diagnosed in the US, roughly 51,000 deaths due to the disease*, and almost half of all patients thought to be "cured" are expected to develop a recurrence of CRC within 5 years - usually due to undetected metastases.** Frequent surveillance of diagnosed patients is recommended.
In the USA Onko-Sure has been cleared for the monitoring of colorectal cancer by the US FDA (July 2008). ADI continues to expand its commercialization of Onko-Sure(TM) in select international markets. For additional information on ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at kszarkowitz@Radient-Pharma.com or 1.206.310.5323.
*National Cancer Institute: Cancer Facts and Figures 2009.
**Bull World Health Organ: Shike M, Winawer SJ, Greenwald PH, et al.
About Radient Pharma:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic and premium skin care products.
About Grifols S.A.
Grifols S.A. is a Spain-based company engaged in the healthcare sector and is listed on Ibex-35 stock market. Grifols is involved in the research, development, manufacturing and marketing of plasma derivates, IV therapy solutions, enteral and parenteral nutrition, diagnostic systems, pharmacy automation, and medical materials and devices. Founded in 1940, Grifols currently operates in 90 countries with more than 6.000 employees, 26 subsidiaries with combined gross revenues over Euro 800 million.
Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
Radient Pharmaceuticals Corporation Contact: Kristine Szarkowitz Director-Investor Relations firstname.lastname@example.org (Tel:) 206.310.5323
SOURCE Radient Pharmaceuticals Corporation
|SOURCE Radient Pharmaceuticals Corporation|
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