SOURCE: ITUS Corporation

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July 14, 2015 12:52 ET

ITUS Subsidiary Anixa Diagnostics Enters Into Collaborative Research Agreement With The Wistar Institute, a Leading Cancer Research Institute

LOS ANGELES, CA--(Marketwired - July 14, 2015) - ITUS Corporation ("ITUS") (NASDAQ: ITUS), today announced that its wholly owned subsidiary, Anixa Diagnostics Corporation, has entered into a Collaborative Research Agreement with The Wistar Institute, located on the campus of the University of Pennsylvania in Philadelphia, Pennsylvania, to further the development of a cancer screening test. Founded in 1892 as the nation's first independent biomedical research institute, Wistar is an international leader in the biomedical research fields of cancer, immunology and infectious diseases, a National Cancer Institute (NCI)-designated Cancer Center, and part of the NCI's select network of national cancer research centers, holding an 'Exceptional' rating -- the highest possible ranking awarded.

Dr. Amit Kumar, Anixa's Executive Chairman and CEO stated, "Wistar is a highly focused research center. By collaborating with Wistar, we have access to its stellar scientists, infrastructure, and overall R&D capabilities. Such a collaboration enables us to begin our validation process quickly, enabling a speedier launch of our initial cancer screening test."

Dr. Frank Rauscher, III, Deputy Director of Wistar's Cancer Center, and who will serve as the Principal Investigator on this Anixa-Wistar collaborative project, stated, "When Dr. Kumar first approached us with the preliminary data and his ideas regarding the development of a process that could be the foundation of a cancer screening test, we immediately saw the potential. This cancer screening test could have a dramatic impact on the lives of many cancer patients and we look forward to working closely with Dr. Kumar and Anixa to perfect and validate the science necessary to make this screening test a reality."

Recent discoveries indicate that a very specific biomarker is present in the blood stream of patients with tumor based cancers. Anixa believes that the measurement and analysis of this biomarker could provide early indications of the presence of cancerous tumors, and would be an excellent candidate for a cancer screening test. Current methods to identify and measure this biomarker are cumbersome, expensive and unreliable. Anixa has identified alternative methodologies for identifying the biomarker, and through its collaboration with Wistar, expects to refine and corroborate these methodologies.

ITUS recently launched Anixa Diagnostics for the purpose of developing non-invasive, highly accurate, cost effective cancer screening tests. For more information on The Wistar Institute, please visit wistar.org.

ITUS Corporation

ITUS funds, develops, acquires, and licenses emerging technologies is areas such as High-Tech, Biotechnology, Life Sciences, and Informatics. The company's wholly owned subsidiary, Anixa Diagnostics, is developing non-invasive, cancer screening tests. Additional information is available at www.ITUScorp.com.

The Wistar Institute is an international leader in biomedical research with special expertise in cancer research and vaccine development. Founded in 1892 as the first independent nonprofit biomedical research institute in the country, Wistar has long held the prestigious National Cancer Institute Cancer Center designation and works actively to ensure that research advances move from the laboratory to the clinic as quickly as possible. Wistar Science: Today's Discoveries, Tomorrow's Cures. www.wistar.org

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