Mitomics and Bostwick Laboratories Enter into U.S. Sales and Marketing Agreement
Bostwick Laboratories to Add Mitomics’ Prostate Core Mitomic Test™ to its Product Portfolio Marketed under the name ProstaClear™ Mitomic Test
Thunder Bay, Ontario, Canada, November 2, 2011 – Mitomics, world leader in the research and development of mitochondrial genome-based products, today announced it has entered into a non-exclusive agreement with Bostwick Laboratories, a leading full-service medical laboratory at the forefront of urologic pathology, to expand the sales and marketing of Mitomics’ flagship product, the Prostate Core Mitomic Test™ (PCMT), across the United States. Bostwick Laboratories will market the Mitomic Technology™ under the name ProstaClear™ Mitomic Test (PCMT).
“Our partnership with Bostwick Laboratories is very timely and builds upon our strong momentum following the launch of PCMT earlier this year,” said Robert Poulter, president and chief executive officer, Mitomics. “As we continue to receive positive feedback from the physician community on PCMT and are, in fact, expanding our processing capacity to meet increasing demand for the test, Bostwick Laboratories’ established network within the urologic pathology community will be invaluable, providing patients and physicians greater access to our leading prostate cancer testing technology. Notably, our partnership allows a seamless test requisition and reporting process with those urological practices that have known and trusted Bostwick Laboratories for many years.”
Mitomics’ PCMT is a highly advanced test, based on the science of mitochondrial DNA (mtDNA), that accurately identifies a biomarker that can indicate the presence of cancerous cells using previously obtained prostate biopsy tissue. PCMT takes advantage of a tumor’s cancerization field effect to identify molecular changes and enable detection of missed tumors. The test’s sensitivity of 84 percent and ability to accurately rule out prostate cancer with a negative predictive value of 91 percent can provide reliable information to patients confronted with a possible prostate cancer diagnosis.
Prostate cancer is the most commonly diagnosed cancer in males and the second leading cause of cancer death in the U.S. Every year, more than 230,000 American men are diagnosed with prostate cancer, and more than 30,000 die from the disease. If detected early, prostate cancer is often treatable. It is estimated that well over 1 million prostate biopsies are performed annually in the U.S., and although approximately 70 percent of all initial prostate biopsies are negative, it has been found that anywhere from 25 to 60 percent of these are positive on second or subsequent biopsy.
About the Prostate Core Mitomic Test™ and ProstaClear™ Mitomic Test (PCMT)
A prostate cancer biopsy is neither an easy nor painless procedure and can result in multiple complications. It only samples a small fraction of the prostate gland, potentially missing the tumor and contributing to a high false negative rate – even in second biopsies. With the highly sensitive PCMT, you can know more by getting far more accurate and reliable results from biopsy tissue. PCMT is a highly advanced, proprietary test based on the science of mitochondrial DNA (mtDNA). Using previously obtained prostate biopsy tissue, PCMT can determine the presence of malignant cells via a cancerization field effect by detecting underlying molecular alterations in normal-appearing tissue. This is all performed quickly and easily with a simple lab test. For more information or to order PCMT, please visit the PCMT web page.
Mitomics is the world leader in the research and development of mitochondrial DNA (mtDNA)-based biomarkers – a new and innovative approach to the detection of cancer and other disease states. Leveraging its unparalleled insights into the role of mitochondria in cancer, the company is developing an extensive and proprietary portfolio of molecular tests that address significant unmet needs in oncology and gynecology, including those for the early detection of prostate and breast cancer, as well as a test for endometriosis. Mitomics currently markets the Prostate Core Mitomic Test™, a highly accurate laboratory developed test for detecting the absence or presence of cancerous cells using existing prostate biopsy tissue, and plans to launch several additional breakthrough molecular tests based on its Mitomic Technology™ in the coming years. The company is headquartered in Thunder Bay, Ontario, Canada. For more information, please visit www.mitomicsinc.com.
About Bostwick Laboratories
Bostwick Laboratories is the leading full-service medical laboratory in urologic pathology, featuring a veteran staff of board-certified, internationally renowned pathologists dedicated to the diagnosis, treatment and subsequent management of prostate cancer and all urologic conditions. For more information, visit www.bostwicklaboratories.com.