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  • Cytogen Corporation to Acquire Novel Diagnostic Technology from Molecular Staging, Inc. to Develop Improved Prostate Cancer Tests

    PRINCETON, N.J., Sept. 28 /PRNewswire/ — Cytogen Corporation (Nasdaq: CYTO) announced today that it had signed a letter of intent to obtain an exclusive, worldwide license from Molecular Staging, Inc. (MSI) of Guilford, CT, for their novel Rolling Circle Amplification Technology (RCAT) to develop in vitro diagnostic tests for Prostate Specific Membrane Antigen (PSMA) and Prostate-Specific Antigen (PSA).

    Serum PSA testing has revolutionized the diagnosis and management of prostate cancer and several million tests are done every year in the United States to screen for malignancy. It is estimated that over $400 million is now spent on PSA testing. However, in two-thirds of men with an elevated PSA the cause is something other than cancer, so the patient is caused needless anxiety and subjected to unnecessary investigation.

    Serum PSMA is also increased in prostate cancer, but, unlike PSA, does not appear from preliminary work to be affected by other miscellaneous events. A sensitive test for PSMA, either alone or in combination with PSA, may enable physicians to better identify men who are more likely to truly harbor prostate cancer and need additional diagnostic work-up. Initially, Cytogen will use RCAT to develop a PSMA and PSA test for prostate cancer and an assay for clinical study should be available by mid-year 2000. The Company also plans to evaluate assays to possibly diagnose other tumors where PSMA is found in the associated neovasculature. For concept testing and clinical evaluation of these various assays, Cytogen anticipates they will draw on the recently announced collaboration with Bostwick Laboratories of Richmond, VA.

    RCAT is a patented process discovered at Yale University School of Medicine. It is based on a method of highly efficient amplification that enables the detection of target molecules in a wide array of testing formats. Because of its greatly enhanced sensitivity and multiplexing capabilities, RCAT has significant diagnostic potential. Cytogen considered several technologies for use in this project, and selected RCAT from other alternatives, including RT-PCR technology, because of RCAT’s advantages in solid phase recognition, amplification and detection of target molecules either directly on a cell or biochip.

    H. Joseph Reiser, Ph.D., Cytogen President and Chief Executive Officer, commented “We anticipate that MSI’s groundbreaking technology may enable us to have a PSMA test in the near future. A new battery of tests for the physician managing this disease could greatly enhance prostate cancer screening. New PSMA and PSA tests would both complement our ProstaScint® diagnostic imaging product and fit well with our core strategy of focusing on prostate disease.”

    MSI is a privately held biotechnology company developing improved diagnostic tests for a variety of diseases and advanced tools for genetic analysis. Information on MSI and its products is available from its web site at http://www.molecularstaging.com.

    Cytogen Corporation, based in Princeton, New Jersey, is a biopharmaceutical company that develops new treatments and diagnostics for cancer and urological diseases. For information on CYTOGEN, including prescribing information as to its approved products, visit the Company’s web site at http://www.cytogen.com

    Information in this news release which is not historical is forward-looking and involves risks and uncertainties. Actual results may differ materially for various reasons, including successful development of a product, validity of the technology, regulatory approval, the ability to manufacture products developed on commercial scale, commercial acceptance of any product or products developed, competition from similar products, the Company’s ability to protect the proprietary position of any technology utilized in the product, the Company’s ability to carry out its business plan and other factors discussed in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no duty to update these forward-looking statements.

    Published on October 10, 2012 · Filed under: Press Release;
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