April 19, 2011: Carlsbad, CA
RiboMed Biotechnologies announced today that it has received CLIA certification for its new RiboMed Clinical Services Laboratory to use its proprietary Abscription®- based DNA Methylation detection technologies for the development of new epigenetic diagnostics tests, particularly Companion Diagnostics (Theranostics). Theranostic tests can provide information as to a patient’s likelihood of responding to specific drug treatments, and RiboMed’s first theranostic tests will help oncologists make better decisions when treating patients with certain cancers.
“Most people don’t realize what a small percentage of patients actually respond to most chemotherapies”, said RiboMed’s CEO, Dr. Michelle Hanna. “In many cases, only 20% of cancer patients improve with treatment, while the other 80% are not only resistant to the drug and do not respond, but they suffer even more due to the horrible side effects of most cancer drugs. Our new tests will provide physicians with badly needed information to help them make informed decisions about their patients’ treatment options. Patients who will not respond well to treatment should be given other options.”
The DNA methylation status of certain genes has been shown to predict the response to several types of drugs, and RiboMed’s proprietary tests for the detection of such methylation work well even with formalin-fixed paraffin embedded tissue (FFPE). These damaged patient samples can be very difficult to analyze with the most common DNA detection technology, which requires harsh chemical treatment of the patient DNA. RiboMed’s tests do not require chemical treatment and can be used on at least less patient sample than currently existing methods. “The ability to use smaller patient samples should allow more patients to be tested, even when there is very little or very damaged tissue available”, said Hanna. “These tests can save and improve lives. Test for resistance first.”
About RiboMed Biotechnologies, Inc.
RiboMed Biotechnologies is a molecular diagnostic company, as well as a supplier of reagents and services to the translational medicine research community, with a focus on Epigenetic Diagnostics and Theranostics in Oncology. The Company develops and commercializes innovative technologies and products for disease screening, diagnostics, theranostics, post-treatment monitoring, and drug development utilizing its proprietary platform technology, Abscription®.
This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements, including, but not limited to, those regarding our growth strategy, are all subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include, but are not limited to, risks related to our history of operating losses, the need for further financing and our ability to access the necessary additional capital for our business, inherent risk and uncertainty in the protection intellectual property rights, and regulatory uncertainties regarding approval or clearance for our products, as well as other risks and uncertainties. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.