SOURCE: Radient Pharmaceuticals Corporation

April 13, 2010 08:27 ET

Radient Pharmaceuticals and GenWay Biotech Continue International Commercialization of RPC's Onko-Sure in Vitro Diagnostic Cancer Test; Companies Begin Product Sales in Greece

TUSTIN, CA--(Marketwire - April 13, 2010) - Through its US-based subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today it continues to grow its partnership with GenWay Biotech Inc. and has signed an exclusive 5-year marketing, sales and distribution agreement with the company for the commercialization of RPC's Onko-Sure™ in vitro diagnostic cancer (IVD) test in Greece.

Under the terms of the agreement GenWay Biotech is responsible for the marketing and product sales in this new market. Radient Pharmaceuticals signed a similar agreement with GenWay Biotech earlier this year which gave GenWay Biotech the exclusive rights to market, sell and distribute Onko-Sure in seven other international markets.

RPC is on an aggressive path in executing an international commercialization strategy for Onko-Sure in key international markets with strong demand for cancer screening, diagnostic and monitoring tests. According to Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals, "RPC is making strong headway in its 2010 Onko-Sure commercialization plan. Today's announcement and expansion to Greece demonstrates significant progress particularly in the European Union where RPC holds the CE mark from the European Union for Onko-Sure product sales in Europe as a general cancer screen. As a strong partner to RPC, GenWay has already initiated product sales in this market through an extensive sales network." GenWay is penetrating the EU through the support of a dedicated sales and marketing organization for Onko-Sure. 

According to Sergey Sikora, Vice President of Business Development for GenWay Biotech Inc., "Our relationship with Radient Pharmaceuticals continues to grow and we remain extremely pleased with the addition of Greece as the newest international market we are representing. Product sales are already underway and we expect this market to be among the strongest in our growing network of countries where GenWay is selling Onko-Sure."

Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved in vitro test for use as an aid in early detection of cancer that enables physicians and their patients to effectively monitor and/or detect certain types of cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP levels rise dramatically with the progression of cancer. Onko-Sure is approved by the US FDA for the monitoring of colorectal cancer and by Health Canada as a lung cancer screen and cancer monitoring tool.

For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at IR@Radient-Pharma.com or 1.206.310.5323.

About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, and premium skin care products.

About GenWay
GenWay Biotech, Inc. manufactures and supplies test kits and their key components, such as antibodies and antigens. The company's proprietary technology platform specializes in producing antibodies from proteins of human, animal, plant, bacterial and other sources. More than 40,000 products are available from the company's online catalog. GenWay is also actively developing novel test kits that look for indications of cancer and other diseases. Learn more at www.genwaybio.com.

Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

Contact Information

  • Radient Pharma Contact:
    Kristine Szarkowitz
    Director-Investor Relations
    Email Contact
    Tel: 206.310.5323