Blood Test With Potential to Detect Stage One Cancer: Soricimed Biopharma Inc. Announces Initiation of Cancer Diagnostic Study

TORONTO, ONTARIO--(Marketwire - Oct. 23, 2012) - Soricimed Biopharma Inc., a private clinical stage company developing novel cancer therapeutics and diagnostics, announced that a pre-regulatory study of their blood test for early detection of cancer has commenced.

Soricimed developed their blood test to detect the presence of TRPV6 messenger RNA, a biomarker identified as being present in many epithelially derived cancers. The test has been shown to detect a host of cancers, including ovarian, breast and prostate, at their earliest stages.

Working in partnership with the Dr. Georges-L.-Dumont University Hospital Centre, a member institution of the Vitalité Health Network, located in Moncton, NB, Soricimed has initiated a blood sampling project to collect samples from up to 700 patients.

"We have been able to isolate a marker from human blood plasma which, in cancer patients, shows a fingerprint of the cancer", commented Professor Jack Stewart, Chief Scientific Officer at Soricimed Biopharma. "It's like an early warning system that alerts physicians to the presence of cancer."

"Half the battle with cancer is being able to detect it early enough to save lives", stated Elisabeth Ross, Chief Executive Officer, Ovarian Cancer Canada. "In the case of ovarian cancer, there are no early symptoms and currently no screening tests available so it's not usually detected until Stage Three or Four. As a result, the mortality rate is extremely high, with - 70% of women not surviving more than five years. If ovarian cancer could be detected at Stage One, we could dramatically increase survival rates."

"We are thrilled to be part of the research continuum that moves novel discoveries into the clinical practice, in hopes of improving the health outcomes of our population. The success of this project is the result of a great collaboration with Soricimed Biopharma Inc., our clinicians and multidisciplinary teams at the Dr. Georges-L.-Dumont University Hospital Centre", stated Gilles Beaulieu, Vice-President, Academic Affairs and Research at Vitalité Health Network.

The study is expected to be completed late Fall of this year. Based on successful results, Soricimed Biopharma would move the test through the regulatory approval process which could result in an approved diagnostic being available for use within 24 months. Testing for cancer could become just another box to check on a person's regular physical examination.

ABOUT SORICIMED BIOPHARMA

Soricimed Biopharma Inc., a private Canadian clinical stage company developing novel cancer therapeutics and diagnostics, was created in 2005 by Professor Jack Stewart and Paul Gunn following the discovery and development of a proprietary peptide, soricidin. Soricidin is the basis for Soricimed Biopharma Inc.'s targeted cancer management program focused on cancer therapeutics and diagnostics. Using focused innovative strategies in collaboration with major world-class cancer research institutions, Soricimed's drugs have demonstrated a capability to reduce cancer cell viability, induce apoptosis and to reduce human tumour volume while minimizing side-effects in various classic animal and in vitro tumour models. Privately held, Soricimed is funded through private investors and various programs from the Government of Canada. For more information please visit, www.soricimed.com.

ABOUT VITALITE

The Vitalité Health Network through its healthcare facilities and programs located in various communities across New Brunswick, provides services to over 250,000 people. The Dr. Georges-L.-Dumont University Hospital Centre, a member institution of the Network located in Moncton, New Brunswick, is a primary, secondary and tertiary health care institution affiliated with the Université de Moncton and the Université de Sherbrooke.