ALAMEDA, Calif., May 04, 2017 (GLOBE NEWSWIRE) -- OncoCyte Corporation (NYSE MKT:OCX), a developer of novel, non-invasive blood-based tests to aid in the early detection of cancer, today announced that a Medical Advisory Committee of lung cancer specialists has been established to provide guidance to OncoCyte’s senior management team on issues relating to lung cancer diagnosis. The Committee is expected to provide advice in a number of areas, including unmet clinical needs, the profiles of patients that will benefit from diagnostic tests, and the role of molecular diagnostics in clinical practice. The Committee will also help to shape OncoCyte’s future pipeline products.
“Our Medical Advisory Committee is comprised of recognized lung cancer experts and we look forward to leveraging their unique perspectives as we plan the completion of development and prepare for the launch of our first commercial product,” commented William Annett, President and Chief Executive Officer. “Additionally, as we look beyond this first test, they will help shape our pipeline to continue to develop future diagnostic tests that can address the complex unmet needs in lung cancer.”
Members of the Committee include:
“My involvement with OncoCyte’s lung cancer test dates back to the initial work with The Wistar Institute so I am very excited about the progress to date,” commented Dr. Bauer. “The early vision of developing a non-invasive test to rule out cancer is becoming a reality. As a physician, I welcome the role of a molecular diagnostic as the new standard of care because it can both improve health outcomes and reduce overall screening costs. We make our best discoveries when we know where to look. OncoCyte is helping to define which patients warrant further investigation. This will maximize our detection of early lung cancer and minimize unnecessary procedures.”
OncoCyte recently reported the successful results of a study of its lung cancer diagnostic test, which were consistent with the results of earlier studies by The Wistar Institute of Anatomy and Biology. The key performance metrics of this study will be presented at the American Thoracic Society Meeting on May 22nd. The Company expects to receive CLIA certification of its laboratory during the second quarter of 2017 and then to carry out CLIA and validation studies of its lung cancer diagnostic test, which if successful will lead to the commercial launching of the test in the second half of 2017.
About OncoCyte Corporation
OncoCyte is primarily focused on the discovery, development and commercialization of novel, non-invasive blood and urine (“liquid biopsy”) diagnostic tests for the early detection of cancer to improve health outcomes through earlier diagnoses, to reduce the cost of care through the avoidance of costly diagnostic procedures, including invasive biopsy and cystoscopic procedures, and to improve the quality of life for cancer patients. While current biopsy tests use invasive surgical procedures to provide tissue samples in order to determine if a tumor is benign or malignant, OncoCyte is developing a next generation of diagnostic tests that will be based on liquid biopsies using blood or urine samples. OncoCyte’s pipeline products are intended to be confirmatory diagnostics for detecting lung, bladder and breast cancer. OncoCyte’s diagnostic tests are being developed using proprietary sets of genetic and protein markers that differentially express in specific types of cancer.
Forward Looking Statements
Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements include those pertaining to the implementation and results of our validation studies and other studies, commercialization plans, future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for OncoCyte, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential diagnostic tests or products, uncertainty in the results of clinical trials or regulatory approvals, the need and ability to obtain future capital, maintenance of intellectual property rights, and the need to obtain third party reimbursement for patients’ use of any diagnostic tests we commercialize. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of OncoCyte, particularly those mentioned in the “Risk Factors” and other cautionary statements found in OncoCyte’s Securities and Exchange Commission filings. OncoCyte disclaims any intent or obligation to update these forward-looking statements, except as required by law.
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