SOURCE: BioMedReports


February 21, 2012 08:08 ET

Emerging Diagnostics Company Trovagene Appears to Have the Right Combination for Success

LOS ANGELES, CA--(Marketwire - Feb 21, 2012) - The founder of Gen-Probe and the former CEO of Sequenom have formed a new venture with Inhibitex player Gabriele Cerrone in the diagnostics space. The firm, Trovagene (PINKSHEETS: TROV), is currently listed as a fully reporting pink-sheet company that is set to be up-listed to the OTCBB within a few weeks. That may give shares, which have already been inching higher in the past few weeks, an excuse to move even more.

In 1984, Dr. Thomas Adams founded Gen-Probe, now a leading molecular diagnostic products and services company. He went on to serve in senior management positions with several leading medical device and diagnostic companies, including IRIS International, where he serves in the capacity of Chief Technology Officer and a director of the company. Eleven years after his tenure as CEO of Gen-Probe, Dr. Adams has joined Trovagene -- as Chairman of the board.

Trovagene differentiates itself from competitors like Gen-Probe, Sequenom and Transgenomic -- all of which trade at many, many multiples higher -- by providing a non-invasive, safe, and inexpensive platform for disease detection that holds the potential to replace complex and less robust earlier technologies based on circulating cells and nucleic acids in blood. Inevitably, tissue and blood samples that are used to test for disease require administration by a physician, whereas a urine sample can be collected by patients themselves. Another interesting advantage to Trovagene's platform is its accuracy in detecting markers of disease. Trovagene conducted a trial of their HPV urine-based test to identify women at risk for developing cervical cancer. The results were as follows:

"The study, conducted in India, enrolled 320 patients. In this study, 31 out of 38 cervical swab samples that were initially classified as 'negative' were subsequently determined to be positive by PCR followed by DNA sequencing of the urine using our urine-based platform. Additionally, 24 out of 34 cervical swab samples initially classified as 'positive' were determined to be negative based on DNA sequencing of the urine. Our urine-based test only had 10 false negatives and 7 false positives, an impressive 93% sensitivity and 96% specificity. As a result we believe that the sensitivity and specificity of our urine-based test is at least similar to and potentially better than the currently used cervical-cell-based tests."

What these results demonstrate is that Trovagene can answer the call for an efficacious technology that will allow for earlier detection of disease -- a call that the company estimates will be worth at least $20 billion worldwide, by 2013.

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