PRINCETON, NJ and REHOVOT, ISRAEL – January 21, 2014 - Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces the Rosetta Cancer Origin Test™ has received in-network provider status with Highmark Health Services, a subsidiary of Highmark, Inc. This test for the identification of the tumor origin in Cancer of Unknown or Uncertain Primary (CUP) is now available to eligible Highmark Health Services members as an in-network service based on the individual member's benefits.
Highmark Health Services is one of the largest private health insurers in the United States and is the fourth-largest Blue Cross and Blue Shield-affiliated company, operating health plans that serve 5.3 million members in Pennsylvania, Delaware and West Virginia.
"Receipt of in-network provider status with a very large insurer further demonstrates the value of the Rosetta Cancer Origin Test in the diagnosis and subsequent treatment of cancer as perceived by payers," stated Kenneth A. Berlin, Rosetta Genomics' President and Chief Executive Officer. "Over the past six months we have made considerable progress executing credentialing agreements with large, national preferred provider organizations, thereby expanding the coverage for the Rosetta Cancer Origin Test to one in five Americans. This is increasingly important as enhanced awareness of our test and the accurate identification of tumor origin in patients with metastatic cancer has resulted in record volumes of samples processed and billed at our CLIA lab over the past three months. This new agreement enhances our ability to offer services that enable personalized medicine and help improve patient outcomes."
E. Robert Wassman, MD, FAAP, FACMG, Rosetta Genomics' Chief Medical Officer, said, "It is becoming clear that the majority, if not all, CUP cases are not different, unique classes of cancer, but rather are poorly diagnosed examples of cancers that we already know respond to specific treatment regimens. The growing awareness of the importance of more accurately determining the tumor origin in hard-to-diagnose metastatic cancers and CUP and its utility in guiding optimal treatment decisions is reflected by increased physician use and expanding payer coverage of our Cancer Origin Test. We are pleased that Highmark recognizes the importance of diagnosing the tumor origin in patients with CUP, and that they have extended access to the Cancer Origin Test to physicians and eligible patients."
About Highmark Inc.
Highmark Inc. is among the largest health insurers in the United States and is the fourth-largest Blue Cross and Blue Shield-affiliated company. Highmark operates health insurance plans in Pennsylvania, Delaware and West Virginia that serve 5.3 million members. Its diversified health businesses serve group customer and individual health needs across the United States through dental insurance, vision care and other related health businesses. Highmark is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information, visit www.highmark.com.
About Rosetta Cancer Testing Services
Rosetta Cancer Tests are a series of microRNA-based diagnostic testing services offered by Rosetta Genomics. The Rosetta Cancer Origin Test™ can accurately identify the primary tumor type in primary and metastatic cancer including cancer of unknown or uncertain primary (CUP). Rosetta Mesothelioma Test™ diagnoses mesothelioma, a cancer connected to asbestos exposure. The Rosetta Lung Cancer Test™ accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. The Rosetta Kidney Cancer Test™ accurately classifies the four most common kidney tumors: clear cell renal cell carcinoma (RCC), papillary RCC, chromophobe RCC and oncocytoma. Rosetta's assays are designed to provide objective diagnostic data; it is the treating physician's responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the Rosetta Cancer Origin Test™, 60,000 from the Rosetta Mesothelioma Test™, 65,000 from the Rosetta Kidney Cancer Test™ and 226,000 patients from the Rosetta Lung Cancer Test™. The Company's assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world. For more information, please visit www.rosettagenomics.com. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000 ext. 309.
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics. Founded in 2000, Rosetta's integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta's cancer testing services are commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab. Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, Rosetta's Cancer of Origin Test™, Rosetta's development or commercialization of molecular diagnostics, the market acceptance of Rosetta's cancer testing services, particularly the Rosetta Cancer Origin Test™, Rosetta's development of personalized medicine products and services, the reproducibility, robustness and accuracy of Rosetta's microRNA technology and its ability to help enable personalized medicine and optimize treatment, the expansion of payor coverage of Rosetta's testing services, and the amount of people covered for the Rosetta testing services, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the "Risk Factors" section of Rosetta's Annual Report on Form 20-F for the year ended December 31, 2012 as filed with the SEC. In addition, any forward-looking statements represent Rosetta's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.
Ken Berlin, President & CEO
(609) 419-9000, ext. 1326
Anne Marie Fields
SOURCE: Rosetta Genomics, Ltd.