Bladder Cancer Test on Nasdaq stock still trading under a dollar.
Matritech Announces Agreement with General
Biologicals to Launch NMP22(R) as Bladder Cancer
Screen in Taiwan
PR Newswire - September 08, 1999 14:15
NEWTON, Mass., Sept. 8 /PRNewswire/ -- Matritech, Inc. (Nasdaq: NMPS), a company
specializing in products designed to detect, manage and screen cancer, announced today that its
distributor in Taiwan, General Biologicals, will launch Matritech's NMP22(R) Test Kit to
leading Taiwanese Hospitals for use as part of an annual screening program for the earlier
identification of individuals with bladder cancer. General Biologicals' management believes that
the combination of the risk of bladder cancer in Taiwan and the existing practice in Taiwan of
annually screening for other cancer types, such as liver and prostate cancer, offers an immediate
market opportunity for Matritech's test.
"We are excited about this opportunity to expand the use of NMP22 in our newest market,
Taiwan. Taiwan has a population of 27 million people and a practice of screening for multiple
cancers. Incorporating NMP22 into this screening system represents a major opportunity for
Matritech," said David L. Corbet, President and Chief Operating Officer of Matritech. "Last
month NMP22 was approved for sale in China, the most populated country in the world. We see
this launch by General Biologicals in Taiwan as the first step to building a market for NMP22 in
the earlier detection of cancer. Similar campaigns by others have been successful in generating
awareness for prostate and liver cancer testing."
Matritech's core technology is based on the detection of cancer related nuclear matrix proteins
(NMPs) that are detected in body fluids or cells. These levels are correlated to the presence of
cancer, even at early stages. The Company is developing and commercializing innovative
serum-, cell- and urine-based NMP diagnostics that enable physicians to reliably detect and
monitor the presence of bladder, cervical, colon, breast and prostate cancers.
The NMP22 Bladder Cancer Test Kit has been cleared by the U.S. FDA for monitoring patients
who have previously been treated for bladder cancer, and is under review for testing
symptomatic, but previously undiagnosed bladder cancer patients. NMP22 is also approved for
detection and management of bladder cancer in China and in Japan. The test is also in use in
Europe. In addition to the NMP22 Test Kit, the Company has developed the NMP179(TM)
cervical cancer kit, the NuMA(TM) Colon Cancer Test Kit, and has products for breast and
prostate cancer under development.
Statement Under the Private Securities Litigation Reform Act Any forward looking statements
related to the Company's expectations regarding the performance, timing or extent of market
acceptance, or future sales in Taiwan, and regulatory approvals of the Company's existing and
future products are subject to a number of risks and uncertainties, many of which are beyond the
Company's control. These include, but are not limited to, risks related to the Company's reliance
on distribution partners, limited capital resources, unforeseen delays in or denials of FDA and
other regulatory approvals, future product demand and pricing, competitive products and
technical developments and general business and economic conditions. There can be no
assurances that the Company's expectations for its products will be achieved.
SOURCE Matritech, Inc.
/CONTACT: Stephen D. Chubb, CEO or David L. Corbet, President both of
Matritech, Inc., 617-928-0820 or Derek Caldwell, Investor Relations of Sunrise
Financial Group, 212-421-1616 or Steve Danehy, Media Relations of Ronald
Trahan Associates, Inc., 617-332-0101/
/Web site: matritech.com
(NMPS) |
