SOURCE: Atossa Genetics, Inc.

Atossa Genetics, Inc.

February 08, 2010 08:30 ET

Atossa Genetics, Inc. Launches Corporate Web Site Featuring New FDA-Approved Breast Cancer Risk Assessment Test

SEATTLE, WA--(Marketwire - February 8, 2010) - Atossa Genetics, Inc., a privately-held healthcare company focused on the development and marketing of novel cellular and molecular diagnostic risk assessment products for breast cancer, announced today the launch of its new Web site at www.atossagenetics.com.

Founded in 2009 by Steven C. Quay, M.D., Ph.D., Atossa Genetics, Inc. is commercializing a revolutionary new FDA-approved screening test to identify women at high risk of developing breast cancer called the Mammary Aspirate Specimen Cytology Test (MASCT™) System.

"Breast cancer remains a major global health care issue, with about 519,000 deaths annually," stated Steven C. Quay, M.D., Ph.D., Chairman, President and CEO. "While treatment of breast cancer has improved, widespread early detection of pre-cancerous cellular changes remains an elusive goal. Mammography, a painful test and the only current screening method in widespread use, cannot detect cellular changes that are predictive of breast cancer up to eight years in advance of the appearance of a tumor. However, using the MASCT System it is now possible to detect such cellular changes at much earlier stages, allowing patients and their physicians to develop strategies for heightened screening, lifestyle changes and the potential prophylactic use of drugs such as Tamoxifen. We believe the MASCT System represents a significant advancement in the identification of women at high risk for breast cancer and we look forward to making the test available beginning in early 2011."

The MASCT System is designed to collect nipple aspirate fluid (NAF), which contains cells from the lining of the milk ducts and the lobules where 85% of all breast cancers originate. Once collected, the NAF sample undergoes laboratory analysis to determine whether the cells are normal, atypical (premalignant), or malignant. The MASCT System uses no radiation, is simple, painless, and inexpensive, and takes less than 10 minutes in a doctor's office or mammography center. The MASCT is intended as an adjunct to mammography for women ages of 40 to 75 and younger women at high risk for breast cancer.

The MASCT System addresses a large and growing worldwide market. In the U.S. alone approximately 37 million mammograms are performed each year. Worldwide, more than 100 million mammograms are performed annually.

The MASCT System, including the collection device and laboratory procedures, are covered by 14 U.S. and foreign patents. Additional patent applications are pending.

Second-generation breast cancer diagnostic products, services and revenue sources are in development.

For additional information on Atossa Genetics, Inc. and the MASCT System, please visit www.atossagenetics.com.

FORWARD-LOOKING STATEMENTS

Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Atossa Genetics to obtain funding; (ii) the ability of Atossa Genetics to attract and/or maintain employees and/or manufacturing, research, development and commercialization partners; (iii) the ability of Atossa Genetics to successfully complete product development and launch its products; (iv) the ability of Atossa Genetics to obtain required governmental medical device and/or clinical laboratory approvals; (v) the market acceptance for Atossa's products and services; and (vi) the ability of Atossa Genetics to develop and commercialize products that can compete favorably with those of competitors, all of whom are larger and better capitalized. Atossa Genetics assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Contact Information

  • Contacts:

    Corporate:

    Steven C. Quay, M.D., Ph.D.
    Chairman, President and CEO
    206-325-6086

    Investors and Media:

    Matthew D. Haines
    Managing Director
    MBS Value Partners
    212-710-9686
    Email Contact