Healthcare Industry News: CytoCore
News Release - October 3, 2007
Dr. Michael Jolley Joins Cytocore as Director of Assay DevelopmentCHICAGO--(HSMN NewsFeed)--CytoCore Inc. (OTCBB:CYCR ), the biopharmaceutical research and medical device company for early detection and treatment of reproductive-tract cancers, today announced that Dr. Michael Jolley has joined CytoCore as its Director of Assay Development.
Dr. Jolley's scientific background includes expertise in areas related to systems integration, and the co-development of assays and instrumentation. His work has led to the commercial success of a number of immunoassay systems.
Dr. Jolley obtained his BSc and PhD degrees in chemistry from the University of Birmingham, UK. After two years as a Visiting Fellow in the Section on Carbohydrates, National Institutes of Health (Bethesda, Md) and one year as a Junior Lecturer in the Chemistry Department of the University of Birmingham, UK, he joined the Diagnostics Division of Abbott Laboratories. While at Abbott, Dr. Jolley was involved in the development of a number of immunoassay technologies, including ELISA and fluorescence polarization. The latter resulted in the TDx system for therapeutic drug analysis and drugs of abuse testing. The TDx system has generated well over $1billion in sales to date. Dr. Jolley was a cofounder of Pandex Laboratories, subsequently acquired by Baxter International, where he invented Particle Concentration Fluorescence Immunoassay (PCFIA). He then started Jolley Consulting and Research Inc., which provided instrumentation and consulting services to the research and drug discovery communities in the area of fluorescence polarization assays, and Diachemix LLC, which produces fluorescence polarization assays in the veterinary diagnostics and food safety arenas.
"Mick brings unparalleled experience in immunofluorescence assay development to his new role," said CytoCore's President Dick Domanik. "Mick's guidance will help us develop new assays that yield life-saving results for those at risk for endometrial and uterine cancers. As a known leader in the field of clinical assay development, this is a substantial addition to CytoCore's scientific and management team."
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
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, 2006. 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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