QuantRx® Biomedical Corporation (OTCBB: QTXB), a broad-based diagnostic
company focused on the development and commercialization of innovative
diagnostic products, today provided an update from Chairman and Chief
Executive Officer Walter Witoshkin on its involvement in genetics-based
personalized medicine and disease prevention.
“Methods and devices based upon
a novel form of the nucleic acid duplex on a surface.”
The commentary below is attributable to Mr. Witoshkin and is followed by
a review of significant developments in 2009 for genetics-based
technology from QuantRx affiliate company Genomics USA.
“QuantRx is focused on identifying and developing diagnostic
technologies that exploit paradigm shifts in modern healthcare
practices. Among our platform technologies, we are working on several
exciting opportunities that are being developed for commercialization
and licensing. Our first platform, addressing a multi-billion dollar
market, combines our new flagship point-of-care diagnostic reader
device, Q-Reader™, with our proprietary lateral flow technology. This
product is expected to begin generating sales later this year. Until
recently, Genomics USA was thought to be developing a distant second
platform, which is technology used for genetics-based personalized
medicine and disease prevention. However, given the progress and
achievements for this technology in 2009, we are optimistic that this
product may be launched far earlier than initially anticipated.
“With significant U.S. government agency funding awarded in 2009 and
additional support from QuantRx, Genomics USA continues to develop an
innovative process that utilizes human genome identification for
personalized medicine. This product platform targeting the new and
rapidly growing market for personalized medicine uses information about
a person’s genetic make-up to tailor strategies for the detection,
treatment or prevention of disease as well as a host of gene therapy and
stem cell transplantation applications.
“The foundation of this platform is Genomics USA’s patented microarray
technology. In 2009 considerable progress was made in strengthening the
intellectual property on this product. Microarray technology resides on
a one-square-centimeter silicon chip that contains up to a thousand DNA
probes that identify specific human gene sequences of diagnostic
interest. With this leading-edge technology, QuantRx, through Genomics
USA, is in the forefront of the laboratory-based testing market with new
technology to allow microarrays to be used as a cost-effective
diagnostic or population scale screening test.
“Microarray technology is being developed for population-scale typing of
HLA – the human leukocyte antigen, a segment of the genome that is
essentially the core of the human immune response. HLA is composed of
proteins that play a critical role in activating the body’s immune
system to respond to foreign organisms. Typing HLA results in the
ability to detect a majority of disorders related to the immune system.
The ability of an individual to respond to a particular vaccine is also
determined by his or her HLA type. An initial application for this
HLA-based technology is in vaccine development and personalized vaccine
delivery. Genomics USA is actively engaged in obtaining key
certification, which we believe will aid in receiving U.S. Food and Drug
Administration approval.
“The healthcare community is presently embracing what has been described
as the dawning of a new era of personalized medicine driven by advances
in genome research. As we plan our product development and investments
for 2010 and beyond, we are especially pleased with the outlook for our
genetics-based disease prevention platform that should see microarray
technology move into the forefront.”
Significant Developments for Genomics
USA in 2009