Keeping an even closer eye on NMPS. News came out at 3pm and it doubles almost immediately. Would like to find out more about this company. If this is for real, there might be some gas left in the tank tomorrow:
PRELIMINARY STUDY SHOWS MATRITECH IDENTIFIED BREAST CANCER PROTEINS IN BLOOD OF ALL BREAST CANCER PATIENTS TESTED
NEWTON, Mass., Sep 9, 1999 /PRNewswire via COMTEX/ -- Matritech, Inc.
(Nasdaq: NMPS), a company specializing in products designed to detect,
manage and screen cancer, released updated information today concerning
the development status of the Company's blood-based test for the
detection of breast cancer.
In a study consisting of specimens from twenty (20) breast cancer
patients and twenty (20) women believed to be disease-free, Matritech
scientists found elevated levels of specific proteins in the blood of
all twenty breast cancer patients and, by contrast, found no evidence
of such proteins in any of the specimens from the patients without
breast cancer.
"We are very excited by this preliminary data," said David L. Corbet,
President and Chief Operating Officer of Matritech. "When breast cancer
is discovered in its earliest stage, the five-year survival rate is 97
percent. Therefore, a blood test that would help physicians facilitate
early detection of the disease would be extremely valuable. Further
testing and development of this breast cancer blood test is a high
priority for Matritech going forward."
According to the American Cancer Society (ACS), breast cancer is the
second leading cause of cancer death in women. The ACS estimates that
there will be more than 175,000 cases of invasive breast cancer in
1999, resulting in 43,700 deaths. The ACS also reports that "numerous
studies have shown that early detection increases survival and
treatment options."
Matritech's lead product, the NMP22(R) Test Kit, was cleared in 1996 by
the U.S. FDA for monitoring patients who have previously been treated
for bladder cancer, and is pending approval 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. NMP22 has been reported by
clinical investigators, such as those from Massachusetts General
Hospital and Kaiser Permanente, to be the most accurate urine-based
bladder cancer test on the market. 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.
Detection of these breast cancer markers in blood was accomplished
using a novel approach for cancer marker detection, mass spectrometry,
a technique which the Company believes is immediately applicable to
other cancer tests it is developing. Mass spectrometry techniques for
measuring the elevation of specific proteins in blood is expected to
improve the accuracy of the tests in development by Matritech as well
as expedite the introduction of these second generation, blood-based
cancer diagnostic tests to clinical laboratories worldwide. The
clinical formats of Matritech's tests will include industry standard
antibody-based immunoassays compatible with existing clinical
laboratory instrumentation.
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, and
regulatory approvals of the Company's breast cancer test 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 limited capital resources, unforeseen delays in
product development 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.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
CONTACT: Stephen D. Chubb, CEO or David L. Corbet, President 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, ext. 17
WEB PAGE: matritech.com
GEOGRAPHY: Massachusetts
INDUSTRY CODE: MTC
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