UCLA School of Nursing Selects QuantRx PadKit® Collection System for Grant Funded Cervical Cancer Study
DOYLESTOWN, PA – February 16, 2010 – QuantRx® Biomedical Corporation (OTCBB:QTXB), an emerging leader in the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide point-of-care healthcare industry, today announced that its proprietary PadKit has been selected as the sample collection system by the UCLA School of Nursing for a comparative cytology study of cervical cancer. Led by UCLA School of Nursing Associate Professor Dr. Dorothy Wiley, the study is funded by an initial grant from the UCLA School of Nursing and intended to identify a low cost diagnostic solution for cervical cancer screening in resource-poor areas.
The need for novel diagnostic tools in the fight against cervical cancer is vital. Although effective treatment is available for this cancer in the early-stage, the healthcare community is challenged in finding a low cost method for making a diagnosis of cervical cancer. The combination of early diagnosis and treatment are ideally suited for reducing overall health-care costs, as later stage diagnosis and treatment is both costly and results in higher mortality. The World Health Organization states that cervical cancer is the second biggest cause of female cancer mortality worldwide with 288,000 deaths yearly. About 510,000 cases of cervical cancer are reported each year with nearly 80% in developing countries. Despite broader access to healthcare services in the U.S., cervical cancer remains a major threat to the female population in this country. These statistics reveal a growing and global need for improved cervical cancer screening, particularly in less developed nations with inferior healthcare resources.
“We are thrilled to work with QuantRx in testing their Padkit intralabial pad, which we hope will improve access to cervical cancer screening in high-risk populations,” said Dr. Dorothy Wiley, Associate Professor at the UCLA School of Nursing. “Our research focuses on cervical cancer, and unfortunately many women cannot afford to be regularly screened. Our goal is to demonstrate that Padkit can be used for Pap test self-collection, especially in resource-poor areas with sparse medical facilities. The Padkit is a low-cost and simple method that we believe can meet this need.”
Dr. William Fleming, QuantRx Chief Scientific Officer and President of its Diagnostics Group, added, “This effort will help validate the scientific research, product development and patient studies previously undertaken and funded solely by QuantRx. The synergy of the prestigious UCLA School of Nursing and our experience at obtaining in vitro diagnostics with demonstrable diagnostic value has the prospect of resulting in a product used in the fight against cervical cancer that will both reduce the cost of treatment and affordably bring new healthcare applications to market.”
About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB: QTXB) is focused on the development and commercialization of innovative products for advanced diagnosis of serious disease and health conditions. With synergistic expertise in the discovery of diagnostic platforms leveraging a vast portfolio of intellectual property, QuantRx’s mission is to introduce products for use by medical professionals, institutions, and consumers that deliver more accurate, reliable, and faster diagnoses which result in improved patient care and a reduction in overall healthcare costs.
The QuantRx strategy targets significant market opportunities estimated to be in excess of $5 billion worldwide. The Company's technology portfolio, with more than three dozen patents, patents pending and licensed patents, includes: (1) RapidSense® point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques for the consumer and healthcare professional markets (QN Diagnostics); (2) PAD technology for over-the-counter applications, and the diagnosis and treatment of women's health concerns and other medical needs, and (3) significant investments in: (a) genome-based diagnostic chips for the laboratory and healthcare professional markets; and (b) molecular imaging agents for positron emission tomography (PET) and fluorescence imaging, with initial application in cardiovascular disease, addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, management's current plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict including; general economic conditions, the Company’s need for additional funds, the early state of the products the Company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the Company's ability to avoid infringement of the patent rights of others, and the Company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. QuantRx does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Jordan M. Darrow
Darrow Associates, Inc.