Thursday, 19 March 2009

Med BioGene Announces LungExpress Dx™ has the Potential to Increase Five-Year Patient Survival by up to 33%, Decrease Healthcare Costs Significantly


MED BIOGENE INC. (MBI:TSX-V)
Basic shares: 40 million
Fully diluted: 58 million
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Med BioGene yesterday announced the expansion of its exclusive license and collaboration agreement with the University Health Network in Toronto for the development and commercialization of LungExpressDx™, a proprietary gene expression-based test for early-stage lung cancer to select patients who will benefit from chemotherapy.

More significantly, in the announcement MBI noted that by better selecting patients for chemotherapy, LungExpress Dx™ has the potential to increase the five-year survival rate by up to 33% while decreasing health care costs significantly. This is a significant improvement upon current outcomes and is expected to change the standard of care for lung cancer patients.

“Not all patients benefit from chemotherapy and not all patients require chemotherapy after surgery,” said Dr. Ming-Sound Tsao of the University Health Network. “Knowing that a patient has a genetic signature for a more aggressive cancer and that their chance of cure may be improved with chemotherapy gives patients and their doctors a clearer picture of the need for post-operative treatment.”

MBI CEO, Erinn Broshko stated: “We are pleased to be extending our relationship with the University Health Network, and, in particular, its world-class team of lung cancer clinical researchers. Importantly, we now have clinical data demonstrating that LungExpress Dx™ has the potential to increase the cure rate of early stage lung cancer and save the health care system millions of dollars in costs.”

Med BioGene announced in April 2008 its initial exclusive license and collaboration agreement with the UHN for the development and commercialization of LungExpressDx™.

To read the full release, click here