SOURCE: Radient Pharmaceuticals Corporation

Radient Pharmaceuticals Corporation

January 05, 2011 08:50 ET

Radient Pharmaceuticals and Gaur Diagno Launch Cancer Education and Public Screening Program in India to Reach 2.2 Million People

Based on Preliminary Sampling Expected Product Revenues Could Exceed U.S. $10 Million FY2011

TUSTIN, CA--(Marketwire - January 5, 2011) - Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) and its exclusive India-based distribution partner Jaiva Technologies, Inc. (JTI) and Jaiva's Indian subsidiary Gaur Diagno, Pvt Ltd (GDL) announced today it will target over 2.2 million people in potentially high cancer prone districts of northern India in phase I of its previously launched cancer education and screening program in India. Through the program GDL is actively commercializing RPC's Onko-Sure® in vitro diagnostic (IVD) cancer test with the goal of the program to drive public education; raise market awareness; and sell Onko-Sure® as a potentially life-saving cancer screening test.

The launch of GDL's cancer education and screening program in India, on behalf of RPC, includes two distinct launch strategies. The first comprises of a widespread deployment of GDL's mobile cancer screening laboratory units where Indian-based physicians and other medical staff travel to local towns to provide counseling and education, along with patient screening using RPC's Onko-Sure® IVD cancer test. The second program is focused on Company collaboration with Indian government agencies to establish GDL-sponsored cancer screening and testing facilities directly on-site in government hospitals. Physician-referred general cancer screening is being conducted at these hospitals with the goal of administering RPC's Onko-Sure® IVD cancer tests to cancer patients contacted through the program. The goal of both strategies is to reduce the incidence of cancer in India, and through each program, patients will be provided with registered health cards that will track a patient's health records for future reference and statistical analysis.

Based on response to initial program outreach, RPC now estimates test kit purchases in FY2011 to potentially reach 25,000 with revenues at an estimated US$10 million in FY2011 sales. These estimates are subject to change based on final results of the 64-point questionnaire and these figures have the potential to increase if GDL's results show more than 50% of the patients at high-risk when screened through the 64-point questionnaire.

Douglas MacLellan, Chairman and CEO of RPC, commented on the progress of the GDL's efforts on behalf of RPC, "This is a significant advance for Radient Pharmaceuticals and our FDA-approved Onko-Sure® IVD cancer test. Onko-Sure® is nicely suitable for countries that cannot invest in advanced screening products and has potential to drive significant product sales in this market alone. We look forward to continued progress on this and all parallel commercialization efforts we have in play."

According to the Cancer Foundation of India, cancer impacts up to 2.5 million people in India annually and the fight against cancer -- in both the public and private healthcare sectors -- is largely restricted to improving diagnostic and treatment facilities throughout the country. Because of this, it has become increasingly vital to enhance activities and programs that support cancer education and offer treatment options to potential and existing cancer patients. RPC's Onko-Sure® IVD cancer test is a simple, non-invasive, patent-pending and regulatory-approved in vitro diagnostic (IVD) test used for the detection, screening, and monitoring of various types of cancer. The test enables physicians and healthcare professionals to effectively monitor and/or detect certain types of cancers by measuring the accumulation of Fibrin and Fibrinogen Degradation Products (FDP) in the blood. 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 detection and monitoring test. For more information visit www.onko-sure.com.

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 is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its Onko-Sure® In Vitro Diagnostic cancer test. The company's focus is on the discovery, development and commercialization of unique high-value diagnostic tests that help physicians answer important clinical questions related to early disease detection; treatment strategy; and the monitoring of disease progression, prognosis, and diagnosis to ultimately improve patient outcomes. Radient Pharmaceutical's current Onko-Sure® cancer test is used to guide decisions regarding patient treatment, which may include decisions to refer patients to specialists, perform additional testing, or assist in the selection of therapy.

About Jaiva Technologies and Gaur Diagno:
Jaiva Technologies, headquartered in Houston, TX and subsidiary Gaur Diagno, headquartered in New Delhi, India, are working to develop and license novel products for life-threatening diseases. Through science and innovation the company aims to develop novel therapies that will significantly impact and extend the quality of life for patients. Part of the company's effort is large-scale screening of populations that result in meaningful and epidemiological slow-down of life threatening diseases, such as cancer.

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