Rosetta Genomics Announces Official Acquisition of New Laboratories for Mesothelioma Research

July 31, 2008 – Rosetta Genomics, the medical research company currently developing a new diagnostic test for mesothelioma, has announced its official acquisition of Parkway Clinical Laboratories, a privately-owned CLIA-certified lab.

The company announced its intentions to acquire the facility around six weeks ago, and this week issued a press release stating the completion of the transaction. Rosetta Genomics purchased the facilities for $2.9 million, as well as an additional $300,000 to be paid “upon the achievement of certain milestones.”

Located in Rehovot, Israel, Rosetta Genomics hopes the acquisition of the Bensalem, Pennsylvania laboratory will facilitate the development and validation of its new diagnostic tests, both in the United States and in the rest of the world.

According to a press release issued by the company, the new mesothelioma test will be able to differentiate between mesothelioma and adenocarcinoma, as well as squamous versus non-squamous non-small cell lung cancer. The test can be performed on a small sample of a patient’s tumor. This is the first diagnostic test which makes use of a highly specific and sensitive form of diagnostic testing the company has dubbed “microRNA.”

The microRNA research is a collaborative effort between Rosetta Genomics Ltd. and the Columbia University Medical Center. Working together, the two groups have already developed a test that can distinguish between two common types of lung cancer.

The company now plans to develop and validate the microRNA-based tests at the Parkway facilities. If the New York State Department of Health approves the new diagnostic test, it will be made available nationwide.

Mesothelioma is an aggressive form of cancer that develops as a result of asbestos exposure. Malignant mesothelioma cancers are difficult to diagnose for a number of reasons, one being these cancers have certain similarities to other types lung cancers.

This can be a serious problem due to the enormous difference in prognosis and treatment between mesothelioma, lung cancer, and other types of cancer. More than half of patients diagnosed with mesothelioma die within two years, and a misdiagnosis can waste time that patients cannot afford to lose. The new diagnostic test may therefore be an important step in improving the effectiveness of mesothelioma treatment.

This entry was posted on Thursday, July 31st, 2008 at 11:21 am and is filed under Asbestos Exposure, Mesothelioma, Mesothelioma Treatment. You can follow any responses to this entry through the RSS feed. Responses are currently closed, but you trackback from your own site.