MicroRNA-based molecular diagnostics developer Rosetta Genomics Ltd. (Nasdaq:ROSG) today signed its fourth international distribution agreement. The new agreement is with India's Super Religare Laboratories Ltd. (SRL), which will distribute Rosetta's three currently-available miRview diagnostic tests in India, Saudi Arabia, Qatar, and the UAE. SRL will send the samples to Rosetta Genomics’ Philadelphia-based CLIA-certified laboratory for analysis.
SRL is one of India's largest diagnostic laboratories, handling samples from seven million patients a year. The three tests are the miRview mets, which can accurately identify the primary tumor site, even when a tumor has not been identified; the miRview squamous, which uses a single microRNA to differentiate squamous from non-squamous, non-small cell lung cancer patients; and the miRview meso, which differentiate mesothelioma, a cancer connected to asbestos exposure, from other lung cancers.
Rosetta and SRL are considering expanding their relationship into R&D projects.
Last week, Rosetta signed an exclusive distribution agreement for the three tests in Canada with Warnex Inc. (TSX: WNX) Warnex Medical Laboratories. Warnex will also send the samples to Rosetta's Philadelphia laboratory.
Rosetta chief commercialization officer Ronen Tamir noted that the deals follow the distribution agreements with Prometheus Laboratories in the US, and with Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) in Israel and Turkey.
Rosetta's share rose 0.6% at the opening on Nasdaq today to $3.15, giving a market cap of $44 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 20, 2009
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