More press: Japanese pharmaceutical company Nippon Kayaku Co. Ltd. will fund development by RBM of PSA screening test:
"Thursday February 15, 9:10 am Eastern Time -- Press Release
Response Biomedical to Develop PSA Test for Japan's Nippon Kayaku
"VANCOUVER, BRITISH COLUMBIA--Response Biomedical Corp. (RBM:CDNX) and Nippon Kayaku Co. Ltd. (Tokyo, Japan) today announced that they have signed an agreement to develop and market a quantitative point-of-care diagnostic test for prostate cancer, the most common form of cancer affecting men.
"Under the terms of the agreement, Nippon Kayaku will fund the development and Japanese regulatory approval of a Prostate Specific Antigen (PSA) test for use on Response Biomedical's patented RAMP(TM) System. Exclusive sales and distribution rights for Japan will be granted to Nippon Kayaku, with Response Biomedical reserving rights for the rest of the world.
"PSA, the only FDA approved serum screening test for cancer, has revolutionized the diagnosis and management of prostate cancer. It is estimated that over US$400 million is currently spent globally on PSA testing. Japan occupies over one quarter of the global market and incidence of prostate cancer in that country is predicted to quadruple between 1990 and 2015.
"``We have always aimed to provide effective treatment and comfortable care for cancer patients,'' said Mr. Masafumi Satou, Director of the Diagnostic Agents Department at Nippon Kayaku. ``As one of the leading companies in the Japanese anticancer drug market, our Pharmaceuticals Group is focused on providing cancer solutions. This agreement will result in a test that will allow the steadily increasing number of prostate cancer patients and their physicians to eliminate the waiting and stress involved with current PSA testing methods. We were impressed by the RAMP technology and look forward to a long and prosperous relationship with Response Biomedical.''
"``This agreement is exciting because it is yet another example of a major international company looking to us to develop a point-of-care diagnostic test for an expanding market,'' said Bill Radvak, President and CEO of Response Biomedical. ``It sends a further message that Response is growing into a leadership role in providing a platform system to companies anxious to distribute quality products to the point-of-care market.''
"Response Biomedical develops quantitative, point-of-care, diagnostic tests for use with its proprietary RAMP System. The RAMP System reduces the cost of healthcare by allowing accurate, rapid and easy-to-use tests to be performed in hospitals, clinics, laboratories and physicians offices worldwide." |
