NanoString Technologies, Inc., (NASDAQ:NSTG) a provider of life science tools for translational research and molecular diagnostic products, today announced nationwide availability of the Prosigna™ Breast Cancer Prognostic Gene Signature Assay beginning in the first quarter of 2014. Premier national diagnostic laboratories ARUP Laboratories, Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH), and Quest Diagnostics (NYSE:DGX) have chosen to add the Prosigna Assay to their comprehensive suites of breast cancer diagnostic tests, providing patients treated throughout the U.S. with timely access to a genomic assay that assesses a tumor's underlying biology and risk of distant recurrence.
NanoString Technologies also announced that laboratories at the University of Alabama at Birmingham Comprehensive Cancer Center and University of North Carolina Lineberger Comprehensive Cancer Center will be among the initial wave of facilities to offer the Prosigna Assay in 2014.
NanoString will showcase the Prosigna Assay at booth #209 during the annual San Antonio Breast Cancer Symposium, December 11th -13th 2013, the leading international gathering of academic and community physicians specializing in breast cancer research and treatment.
National diagnostic laboratories adopting the Prosigna Assay commented on the new offering:
"This is the next generation of diagnostics, which embraces both the molecular and anatomic features of a tumor to provide a more accurate estimate of risk," said Philip Bernard, MD, ARUP Laboratories Medical Director and Associate Professor in the Department of Pathology at the University of Utah.
"LabCorp is pleased to be among the first laboratories to offer the Prosigna assay," stated Mark Brecher, MD, LabCorp Chief Medical Officer. "Prosigna provides physicians and their patients a new and important diagnostic tool, in conjunction with other clinical and pathological factors, to help monitor and treat breast cancer recurrence."
"We are pleased to form this relationship with NanoString," said Gerald LaFlamme, Quest General Manager, Oncology business. "The Prosigna Assay will extend our capabilities in breast cancer and provide an important new option for women."
Brad Gray, President and Chief Executive Officer of NanoString Technologies commented on the national diagnostic laboratory and cancer center adoption of Prosigna: "We look forward to working closely with our clinical laboratory and cancer center partners, and believe these collaborations will provide a solid foothold in the breast cancer genomic assay market. These laboratories collectively serve the pathology testing needs of a substantial portion of breast cancer patients throughout the U.S. In the months ahead, we plan to coordinate closely with these laboratories so they can successfully provide locally accessible and clinically important insights from breast tumor genomics."
Financial terms of the transactions were not disclosed. An investment community conference call is scheduled for tomorrow, Wednesday, December 11, 2013 at 8:30AM EST.
Conference Call Details
Management will host an investment community conference call on Wednesday, December 11, 2013 at 5:30AM PT / 8:30AM ET to discuss this news and answer questions. Individuals interested in listening to the conference call may do so by dialing (888) 793-9492 for domestic callers, or (734) 385-2643 for international callers, or from the webcast link in the investor relations section of the Company's website at: www.nanostring.com. The webcast will be available on the Company's website for 14 days following the completion of the call.
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