Neoprobe Announces Renewal of Marketing Agreement With Ethicon Endo-Surgery, Inc.
Posted on: Monday, 13 March 2006, 09:01 CST
Neoprobe Corporation (OTCBB:NEOP), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced that it had received notification of the renewal its Marketing and Distribution Agreement with Ethicon Endo-Surgery, Inc., through December 2008. Ethicon Endo-Surgery has distributed the Company's neo2000(R) gamma detection system on a worldwide basis, except Japan, since 1999.
The neo2000 is widely used by surgeons in a surgical application referred to as sentinel lymph node biopsy (SLNB). SLNB helps trace the lymphatic patterns in a cancer patient to evaluate potential tumor drainage and cancer spread in lymphatic tissue. The technique does not detect cancer; rather it helps surgeons identify the lymph node(s) to which a tumor is likely to drain and spread. The lymph node(s), sometimes referred to as the "sentinel" node(s), may provide critical information about the stage of a patient's disease. SLNB begins when a patient is injected at the site of the main tumor with a commercially available radioactive tracing agent. The agent is intended to follow the same lymphatic flow as the cancer would if it had metastasized. The surgeon may then track the agent's path with a hand-held gamma radiation detection probe, thus following the potential avenues of metastases and identifying lymph nodes to be biopsied for evaluation and determination of cancer spread.
Neoprobe's President and CEO, David Bupp, said, "We are excited about the renewal of our agreement and believe our continuing commitment to the surgical oncology market, coupled with alliances with world-class organizations such as Ethicon Endo-Surgery, will yield positive results as we strive to grow our medical device businesses."
About Neoprobe
Neoprobe is a biomedical company focused on enhancing patient care and improving patient outcome. Neoprobe currently markets the neo2000(R) line of gamma detection systems that are widely used by cancer surgeons and is commercializing the Quantix(R) line of blood flow measurement products. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek(TM) and RIGScan(R) CR. Neoprobe's recently formed subsidiary, CIRA Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe's strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. www.neoprobe.com
Source: Business Wire
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