Healthcare Industry News: colposcopy
News Release - March 28, 2007
Diamics Signs $22 Million Contract With Leading Hospital Group in ChinaNew Collector Pap-Map System Expected to Greatly Improve and Expand Cervical Cancer Screening Worldwide
NOVATO, Calif., March 28 (HSMN NewsFeed) -- Diamics, a privately-held company developing products for cancer screening and diagnostics, today announced that it has signed a three year $22 million plus contract for the use and distribution of its proprietary system for cervical cancer screening in China.
Under the terms of the agreement, the Beijing Jingmin Hospital Group will purchase no less then 1 million tests a year. They will initially start with the company's CerCol collector which is part of the Pap-Map(TM) cervical mapping system. The CerCol collector received US FDA 510(k) marketing clearance earlier this month. In China, product registration is being funded and organized by the Beijing Hospital Group.
Once registered, the CerCol collector initially will be used in China in conjunction with the Diamics Transfer Station, to automatically create a "touch-prep" impression onto a pre-treated slide, which then can be processed by normal Pap staining methods. Diamics' Pap-Map technique is thus able to create a "map" of the sample collected from the cervix, providing the physician with Pap stain qualitative aspects of abnormal areas of the cervix, to help direct colposcopy and biopsy procedures.
The second phase of the agreement will be triggered by the registration in China of Diamics' fully automated C-Map cervical cancer screening system, now in testing. Once registered, the C-MAP system (collector, transfer device, reagents and scanner) will replace the individual CerCol sales, with volumes reflective of the original three year contract. The Beijing Jingmin Hospital Group will target government institution sales and distribute via their associated hospitals to significantly expand C-Map usage within China. Except for their own hospital group use, they will have certain non-exclusive distribution rights for the C-MAP system in China.
The C-Map system is a molecular-based diagnostic device being developed to allow for real time, 'see and treat' applications. It combines sampling with the CerCol collector and slide preparation with discreet immunological probes to determine the ratio between proliferating and apoptotic cells and by means of a third marker, identify cells that have been integrated by HPV.
"We are delighted to be working with the Beijing Jingmin Hospital Group and its affiliates to help women in China obtain proper screening for what is a highly treatable disease if caught early," said Christine Meda, President and COO, Diamics. "We anticipate that the C-Map system will be a key diagnostic tool in China and other 'developing' countries as we expect the automated system to offer a more specific, affordable result to women who presently do not have such access."
China has a high incidence of cervical cancer and it has recently become a government priority to address this issue by promoting more widespread screening programs.
Cancer of the cervix is the second most commonly diagnosed cancer in women worldwide. Approximately 500,000 new cases are diagnosed each year, 80% of which occur in developing countries.
"The government here has called for greater awareness, screening and treatment of women's health conditions, specifically, cervical cancer, and we are very pleased to be the first hospital to become a center of cervical cancer screening excellence," said Dr. James Shi, Beijing Jingmin Hospital. "Our use of the CerCol collector as soon as we complete registration, and later, our use of the automated C-Map system will help ensure that our patients are getting the best, most progressive care possible."
About the CerCol Collector:
On March 21, Diamics announced that it received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its proprietary CerCol Cervical Sample Collection System. The CerCol Cervical Collector is intended for the collection of cervical cytology material and its transfer for Pap analysis. The new device demonstrated > 98% sample adequacy in multi-center clinical trials and offered patients greater comfort over conventional collector devices.
About Diamics, Inc.
Diamics Inc. is a privately owned medical device and diagnostics company located in the San Francisco Bay Area. The company is committed to developing, manufacturing, and marketing cost effective, molecular-based cancer screening and diagnostic systems that will increase long-term cancer survival rates through early detection. Diamics' management team has an extensive track record of success in the medical device and diagnostics industries. The company's mission is twofold: to help medical personnel worldwide improve the lives of the people they treat and to generate a return on investment for its shareholders. For more information, please visit www.diamics.com .
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