Health Discovery Corp (HDVY)

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Health Discovery and New York City Pancreatic Cancer Center form partnership
Posted on: Tue, 09 Feb 2010 08:02:14 EST

Symbols: HDVY
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Feb 09, 2010 (Datamonitor via COMTEX) --
Health Discovery, a molecular diagnostics company, has entered into an exclusive agreement with the Pancreas, Biliary and Liver Surgery Center of New York at Saint Vincent Catholic Medical Centers in New York City to develop new molecular diagnostic tests for the early detection of pancreatic cancer.

The Pancreas, Biliary and Liver Surgery Center is under the leadership of Michael Wayne, Franklin Kassim and Avram Cooperman.

Under the terms of the agreement, the Pancreas, Biliary and Liver Surgery Center will provide all specimens from their collected specimen banks, specimens on all new patients and all associated clinical and outcomes data.

The specimens will include tissue, blood and urine. Health Discovery will use its patent protected SVM-based discovery technology and expert science team to develop these new molecular diagnostic tests for pancreatic cancer in a similar fashion to the urine-based prostate cancer test developed by the company and licensed for development and commercialization to Quest Diagnostics and Abbott on a royalty-based, world-wide co-exclusive basis.

Health Discovery will own all of the intellectual property and commercialization rights to these newly discovered molecular diagnostic tests for pancreatic cancer and the company intends to immediately partner with a large clinical laboratory for development, marketing and commercialization of these tests.

Stephen Barnhill, chairman and CEO of Health Discovery, said: "We are very excited to partner with Dr Wayne, Dr Kassim and Dr Cooperman and their colleagues, all experts in pancreatic cancer, to work together in the development of new molecular diagnostic tests for the early detection of pancreatic cancer. The specimen bank established by these doctors provides a rare opportunity to accomplish this vital goal."

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