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Mitomics Announces U.S. Sales and Marketing Agreement with Sterling Pathology

January 7, 2013

Diagnostic pathology firm to offer breakthrough prostate cancer assay to
urology market

THUNDER BAY, ON, Jan. 7, 2013 /PRNewswire/ – Mitomics, a developer of
mitochondrial DNA-based tests for early disease detection, today
announced it has entered into a sales and marketing agreement for the
Prostate Core Mitomic Test((TM)) (PCMT(TM)) with Sterling Pathology National Laboratories. Under the
agreement, Sterling Pathology National Laboratories, a leader in
diagnostic pathology services, will make PCMT available through their
team of sales representatives to urologists throughout the United
States, on a non-exclusive basis. PCMT is one of the most accurate and
safest tests currently on the market for the detection of prostate
cancer.

“With their strong network of laboratories and sales professionals,
Sterling Pathology National Laboratories is an ideal partner to offer
PCMT to the urology market,” said Robert Poulter, President and CEO of
Mitomics. “There is a great need for a prostate cancer detection assay
such as PCMT, which provides an extremely precise and painless way for
urologists to eliminate false-negative biopsy results and detect the
disease at the earliest possible stage.”

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. It is estimated that well over 1 million
prostate biopsies are performed annually in the U.S. in efforts to
diagnose prostate cancer. 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 false negatives, and found to be
positive on second or subsequent biopsy. Prostate biopsies are painful
and carry the risk of serious infection. According to Johns Hopkins
University, 7 percent of patients who undergo prostate biopsies suffer
complications requiring hospital care within 30 days of the procedure.

For patients whose initial prostate-biopsy results come back negative,
PCMT can often prevent the need for multiple biopsies by eliminating
false-negative results. Using tissue samples from the existing biopsy,
PCMT employs mitochondrial-DNA analysis to accurately detect the
biomarker associated with prostate cancer as found in benign tissue.
Even if a biopsy needle misses a tumour, PCMT can still detect the
presence of cancer. The information from PCMT can assist in the
diagnosis and management of prostate cancer.

“With its ability to greatly reduce false-negative results on prostate
biopsies, the Prostate Core Mitomic Test is an important step forward
in the detection of prostate cancer,” said Michael Okuniewski, Vice
President, Sterling Pathology National Laboratories. “By partnering
with Mitomics to offer PCMT, Sterling Pathology National Laboratories
furthers its commitment to deliver the very best diagnostic tools to
urologists and their patients.”

About the Prostate Core Mitomic Test((TM)) (PCMT)
Conducted in Mitomics’ CLIA-certified lab, PCMT uses existing
prostate-biopsy material to detect mitochondrial-DNA alterations
(called “deletions”) that appear in benign tissue when a tumor is
present in adjacent tissue. These molecular alterations, known as the
cancerization field effect, enhance tumor detection in instances where
biopsy cores appear histologically benign because they have failed to
intersect tumor tissue. Initial prostate biopsies can miss 25 to 60
percent of all cancers, leading to false-negative results. PCMT
provides the clinician with insights far surpassing conventional
screening methods. The concurrent high sensitivity of 85% and negative
predictive value of 92% contribute unprecedented strength to this assay
through its ability to identify prostate cancer. For more information
or to order PCMT, please visit http://www.mitomicsinc.com/prostate-core-mitomic-test/.

About Mitomics Inc.
Mitomics Inc. provides clinical solutions that deliver the earliest
possible detection of disease through mitochondrial DNA-based testing.
Using proprietary technology, called Mitomic Technology(TM), the company
has developed a platform on which it is developing an array of
molecular tests that address significant needs in oncology. The
company’s flagship product, the Prostate Core Mitomic Test(TM) (PCMT(TM)),
was launched in 2011, and is one of the most accurate and safest tests
currently on the market for prostate cancer detection. PCMT is a simple
test, conducted in Mitomics’ CLIA-certified lab, using existing biopsy
tissue to identify the biomarker associated with malignant cells in
benign tissue. Mitomics is currently using its platform of mtDNA
testing to develop similar tests for the detection of breast cancer,
bladder cancer, thyroid cancer, melanoma, ovarian cancer, pancreatic
cancer, uterine cancer, and endometriosis. Mitomics is headquartered in
Thunder Bay, Ontario, Canada. www.mitomicsinc.com.

About Sterling Pathology National Laboratories
Sterling Pathology National Laboratories is dedicated to providing the
best diagnostic pathology services to meet the needs of MD clinics and
ambulatory surgical centers, for medical specialists and specialty
surgeons. Sterling Pathology National Laboratories’ goal is to provide
the best in quality, service and value to its client physicians and
their patients. The laboratories are operated by Sterling Pathology
Medical Corporation, an organization by experienced pathologists,
dedicated to the best practice of diagnostic consultation to specialist
MDs for their outpatients. Sterling Pathology National Laboratories’
pathologists are superbly qualified practitioners, backed up by
exemplary support staff.

SOURCE Mitomics Inc.


Source: PR Newswire