Rosetta Genomics Ltd. (ticker: ROSGD, exchange: Privately Held)
News Release -
ROSETTA GENOMICS ANNOUNCES ALLOWANCE OF PATENTS COVERING HUMAN AND VIRAL MICRORNAS
Rehovot, Israel; New Brunswick, New Jersey, (March 12, 2007) - Rosetta Genomics, Ltd. (NASDQ: ROSG), announced today that the United States Patent and Trademark Office (USPTO) has issued a 'Notice of Allowance' for two of the company's patent applications on human (10/310,914) and viral (10/604,944) microRNAs. The first allowed claims focus on a human microRNA gene (mir-492). The second allowed patent claims focus on an HIV microRNA gene. The company estimates that the patents will be issued within six months.
In addition, the United States Patent and Trademark Office (USPTO) issued a 'Notice of Allowance' for a patent application (10/490,955) licensed to Rosetta Genomics for diagnostic and research uses, through an agreement with Max-Planck-Innovation Gmbh, the licensing agent for the Max Planck Society. The allowed claims focus on a human microRNA gene (mir-122). The company expects the patent to be issued within six months. Rosetta Genomics is using these and other microRNAs to develop a diagnostic product for cancer of unknown primary (CUP), as well as other diagnostic and therapeutic products.
"This is an important milestone for Rosetta Genomics.", said Amir Avniel, President and CEO of the company. " Our extensive Intellectual Property portfolio is an integral part of our business strategy, and these patent allowances are a significant milestone for Rosetta Genomics and the microRNA field."
MicroRNAs (miRNAs) are recently discovered, naturally occurring small RNAs that act as protein regulators and have the potential to form the basis for a new class of diagnostics and therapeutics. Since many diseases are caused by the abnormal activity of proteins, the ability to selectively regulate protein activity through microRNAs could provide the means to treat a wide range of human diseases. In addition, microRNAs have been shown to have different expression levels in certain diseased versus normal tissues. As a result, these differences potentially provide for a novel diagnostic strategy for many diseases. MicroRNAs are thought to play a key role in the differentiation of cells into specific cell types performing various functions in the body.
About Rosetta Genomics
Rosetta Genomics (NASDQ: ROSG) is a leader in the development of microRNA-based diagnostics and therapeutics. Founded in 2000, the company's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong IP position and strategic alliances with leading biotechnology companies, Rosetta Genomics is working to develop a full range of diagnostic and therapeutic products based on microRNAs. The company's primary focus is in the development of microRNA-based products to diagnose and treat different forms of cancer and infectious diseases.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the expectation that, and timing regarding when, the allowed patents will issue, the role of miRNAs in human physiology and disease, the possible identification of a novel diagnostics approach for targeting miRNAs, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: Rosetta's approach to discover and develop novel diagnostics products, which is unproven and may never lead to marketable products; Rosetta's ability to fund and the results of further pre-clinical and clinical trials; obtaining, maintaining and protecting intellectual property utilized by Rosetta's products; Rosetta's ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta's ability to obtain additional funding to support its business activities; Rosetta's dependence on third parties for development, manufacture, marketing, sales, and distribution of products; the successful development of Rosetta's product candidates, all of which are in early stages of development; obtaining regulatory approval for products; competition from others using technology similar to Rosetta's and others developing products for similar uses; Rosetta's dependence on collaborators; and Rosetta's short operating history; as well as those risks more fully discussed in the "Risk Factors" section of Rosetta's most recent Registration Statement on Form F-1 on file with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta's views only as of today and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.