Xillix Technologies Corp.
TSX : XLX
May 05, 2006 17:16 ET
Xillix Technologies Corp.: U.S. Senate Support for Lung Cancer Initiatives Positive for Onco-LIFE'TM'
RICHMOND, BRITISH COLUMBIA--(CCNMatthews - May 5, 2006) - Xillix Technologies Corp. (TSX:XLX), the world leader in fluorescence endoscopy for the early detection of cancer, highlighted recent developments in the U.S. Senate supporting lung cancer initiatives that is expected to positively impact the Company's latest product Onco-LIFE™. Onco-LIFE was approved by the U.S. Food and Drug Administration (FDA) last June, for the improved detection and localization of lung cancer following an international clinical trial that demonstrated a 325% per-lesion improvement and a 250% per-patient improvement in the detection of pre-cancerous lesions and early-stage lung cancer (moderate-severe dysplasia to carcinoma in situ) compared to conventional white-light endoscopy alone.
On May 3rd, Senator Hillary Clinton (D-NY) and Senator Chuck Hagel (R-NE) reached across party lines to pass legislation they introduced and want expedited which calls for immediate action to recognize and address the problem of lung cancer. Senate Resolution #408 calls on the U.S. President to declare lung cancer a public health priority and to increase funding for research and screening of lung cancer, provide expedited approval procedures for lung cancer drugs, new screening and treatment programs for veterans and military personnel, and a pilot screening program under Medicare. The resolution includes a blueprint for several federal agencies including the Departments of Defense, Veterans Affairs, Health and Human Services, and the Food and Drug Administration to work together in reducing lung cancer's high mortality numbers. A similar resolution introduced by former lung cancer survivor Congressman Clay Shaw (R-FL), House Resolution #739 is also pending in the U.S. House of Representatives.
The resolution preamble describes the magnititude of the problem of lung cancer:
- Lung cancer kills more people each year than breast, prostate, colon, liver, melanoma and kidney cancers combined
- Five-year survival rate for lung cancer is still only 15%, while more heavily funded cancers such as breast and prostate, have 5 year survival rates of 87% and 99% respectively
- Over 60% of lung cancer is now being diagnosed in non-smokers and former smokers
- Military personnel and veterans have higher smoking rates and elevated exposure to known carcinogens
- The Baby Boom generation is now entering their 60's, which is the most common age for cancer development
These legistlative initiatives have also been hailed by the Lung Cancer Alliance, the only U.S. non-profit organization soley dedicated to patient support and advocacy for people living with lung cancer and those at risk. Laurie Fenton, President of the Lung Cancer Alliance said in a recent statement, "This is tremendous. It is the first time we have the Senate and House recognizing that lung cancer is not a political issue, rather, it's a major public health epidemic affecting smokers and non-smokers. This must be addressed as a disease - not a punishment. The political message coming from the Senate is loud and clear and rarely seen speed with which it was passed, just five weeks after introduction. This resolution puts us on a stronger path to our ultimate goal of saving lives."
Immediately following U.S. FDA approval of Onco-LIFE, Xillix President and CEO Cynthia Roney traveled to Washington, D.C. to meet with Laurie Fenton and introduce the Lung Cancer Alliance to Xillix and the Company's exciting product, Onco-LIFE which improves the early detection of lung cancer.
"We have been working in the field of lung cancer for more than a decade," said Cynthia Roney, "and we firmly believe it's about time there was new hope in the fight against lung cancer. The unfortunate deaths of Peter Jennings, a former smoker, and Dana Reeve, a young non-smoking woman, have heightened awareness and compassion for the victims of lung cancer and together with the tireless efforts of the Lung Cancer Alliance, has helped trigger this recent political movement to address the leading cause of cancer death. Our latest FDA-approved product Onco-LIFE has been specifically developed to improve the early detection and localization of lung cancer and is supported by significant clinical evidence and internationally recognized pulmonologists and thoracic surgeons. Onco-LIFE enables physicians the ability to see subtle, early-stage cancer and pre-cancerous lesions missed by conventional imaging including chest x-rays, CT, and standard white-light endoscopy. Finding these early lesions is the key to improved survival. Studies suggest that five-year survival could be expected to increase from the current dismal 15% to 74-92% if found at carcinoma in situ (Stage 0) and precancerous stage (moderate-severe dysplasia), which is precisely the stage at which Onco-LIFE has been clinically proven effective."
More information about the Lung Cancer Alliance is available at www.lungcanceralliance.org.
Additional information regarding the legislative resolutions is also available on Xillix's website at www.xillix.com.
Xillix Technologies Corp. is a Canadian medical device company and the world leader in fluorescence endoscopy for improved cancer detection. Xillix's latest device, Onco-LIFE™, incorporates fluorescence and white-light endoscopy in a single device that has been developed for the detection and localization of lung and gastrointestinal (GI) cancers. An international multicenter lung cancer clinical trial of Onco-LIFE demonstrated a 325% per-lesion improvement in the detection of early lung cancer (moderate-severe dysplasia and carcinoma in situ) and a 250% per-patient improvement compared to white-light alone. Onco- LIFE is approved for sale in the United States for the lung application and in Europe, Canada and Australia for both lung and GI applications. Onco-LIFE is compact, user-friendly and is compatible with a wide range of endoscopes and endoscopic accessories to help maximize global market acceptance.
Note: Certain of the statements contained in this press release contain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company does not expect to update forward-looking statements continually as conditions change. Investors are referred to the full discussion of risk factors associated with the Company's business contained in the Company's Annual Information Form filed with securities regulatory authorities dated March 28, 2006.
The Company is listed on the Toronto Stock Exchange under the trading symbol "XLX".