Healthcare Industry News: CytoCore
News Release - November 29, 2006
CytoCore Launches Cutting Edge Uterine Cancer Clinical TrialsNew EndoScan Test First of its Kind; Critical for Early Diagnosis in Millions of Women
CHICAGO--(HSMN NewsFeed)--CytoCore, Inc. (OTCBB:CYCR ) today announced the start of clinical trials in support of a groundbreaking, highly accurate and non-invasive uterine cancer screening method that is expected to become a standard gynecological wellness test available worldwide.
CytoCore's new EndoScan(TM) product is the first of its kind and fills a core medical niche that could save countless lives among the 25 to 28 million women at risk for uterine cancer in the United States alone each year. Phase I trials should be complete in six months. Phase II trails will begin immediately, with a product market release anticipated during 2008.
"CytoCore has taken the lead and pushed hard to make this badly needed medical technology available to women as soon as possible," said Dr. George Gorodeski, director of medical research at CytoCore and a faculty member at University Hospital Case Medical Center of Cleveland. "We have a very strong IP position in this area."
Trials began at University Hospitals of Cleveland, and will be added to by additional sites as their approval process is completed.
CytoCore projects a worldwide market in excess of $1 billion for the EndoScan test, which if administered every other year could provide significant early detection among the 44,000 cases of uterine cancer - the nation's fourth most deadly cancer - diagnosed annually.
For further information, visit www.CytoCoreInc.com
About CytoCore, Inc.
CytoCore develops cost-effective cancer screening systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, endometrial, and other cancers. The InPath(TM) System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer screening systems that can be seamlessly integrated into existing medical models. More information is available at: www.CytoCoreInc.com
Dr. Gorodeski has a significant financial interest in this research consisting of equity and salary as consultant and Director of the Scientific Advisory Board of CytoCore. Dr. Gorodeski's invention licensed to CytoCore may generate royalty income for Dr. Gorodeski, for University Hospitals of Cleveland, and for CASE University.
Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the InPath(TM) System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2005. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
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