Health Discovery Corp (HDVY)

[LocWolf]

September 12, 2016 at 07:43 AM EDT


Health Discovery Corporation Forms Development Committee

Health Discovery Corporation (“HDC” or the “Company”), an intellectual property development company using patent protected advanced mathematical techniques for personalized medicine, announced today that its board of directors has formed a special committee designated as the Development Committee. The purpose of this committee will be to identify options and alternatives that may be available to HDC for the development, commercialization and marketing of an In Vitro Diagnostic (“IVD”) test for prostate cancer. In January 2012 HDC entered into an agreement with NeoGenomics, Inc. (NASDAQ:NEO) to develop and commercialize certain Lab Developed Tests (“LDT”) for various cancers including prostate cancer. Under this agreement HDC retained the right to develop and commercialize IVD tests for cancers.



Health Discovery Corporation (“HDC” or the “Company”), an intellectual property development company using patent protected advanced mathematical techniques for personalized medicine, announced today that its board of directors has formed a special committee designated as the Development Committee. The purpose of this committee will be to identify options and alternatives that may be available to HDC for the development, commercialization and marketing of an In Vitro Diagnostic (“IVD”) test for prostate cancer. In January 2012 HDC entered into an agreement with NeoGenomics, Inc. (NASDAQ:NEO) to develop and commercialize certain Lab Developed Tests (“LDT”) for various cancers including prostate cancer. Under this agreement HDC retained the right to develop and commercialize IVD tests for cancers.

Additionally, the committee will consider options to develop and commercialize other elements of its substantial intellectual property portfolio as they relate to medical tests and diagnostic testing methods. HDC believes its technology may be effective for the increasing importance of Next-Generation Sequencing (“NGS”) and other methods relating to the advancement of personalized medicine, including, but not limited to image analysis interpretation software.



The chairman of the Development Committee will be George H. McGovern, III, who joined HDC’s board in May 2016. The Development Committee will report to HDC’s board of directors. Mr. McGovern may be reached at [e-mail].

About Health Discovery Corporation

Health Discovery Corporation is an intellectual property development company that uses advanced mathematical techniques to analyze large amounts of data to uncover patterns that might otherwise be undetectable. It operates primarily in the emerging field of personalized medicine where such tools may lead to scientific discovery. Its primary business consists of licensing its intellectual property and developing diagnostic tests that include human genes and genetic variations, as well as gene, protein, and metabolic expression differences and image analysis in digital pathology and radiology.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding future performance, opportunities and investments, and anticipated results in general. From time to time the Company may make other forward-looking statements in relation to other matters, including without limitation, commercialization plans and strategic partnerships. Actual results may differ materially due to a variety of factors, including, among other things, the acceptance of our approach to applying mathematics, computer science and physics into the disciplines of biology, organic chemistry and medicine and our products and technologies associated with those approaches, the ability to develop and commercialize new drugs, therapies or other products based on our approaches, and other factors set forth from time to time in the Company’s Securities and Exchange Commission filings.

All forward-looking statements and cautionary statements included in this document are made as of the date hereof based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement or cautionary statement.



View source version on businesswire.com: http://www.businesswire.com/news/home/20160912005716/en/



Contacts:

Health Discovery Corporation
Kevin Kowbel, CEO, 678-336-5300
[e-mail]