Radient Pharmaceuticals Ships Onko-Sure(R) Test Kits to Brazil and Files Patent in Brazil
Release Source: Radient Pharmaceuticals Corporation On Tuesday August 23, 2011, 7:00 am EDT
TUSTIN, CA--(Marketwire -08/23/11)- Radient Pharmaceuticals Corporation "the Company" or "Radient" (OTCQX: RXPC.PK - News) (Pinksheets: RXPC.PK - News), a developer and marketer of In Vitro Diagnostic (IVD) cancer tests, today announced it has sold and shipped its first order of Onko-Sure® test kits to a distributor in Brazil. This initial shipment of kits will be used by the in-country distributor for regulatory approval and clinical validation of the test in Brazilian labs. Prior to the shipment of these test kits, Radient filed for patent protection for Onko-Sure® in Brazil.
The Onko-Sure® test kit is a 96-well ELISA test kit sold to clinical reference labs. Labs run individual tests prescribed by doctors. Forty tests can be run, in duplicate, on each test kit. Onko-Sure® is a non-invasive cancer blood test that has been shown, in a large body of published clinical research, to be effective in the detection of 19 different cancers.
According to Kalorama Information, Brazil spent $126 billion on healthcare in 2009. Brazil's in vitro diagnostic market has nearly doubled since 2003 and is growing at a rate that is faster than the average rate of growth for the IVD market worldwide. With a population of approximately 190 million, Brazil is by far the most populous country in South America.
Radient Chairman and CEO, Douglas MacLellan, commented, "Brazil is key for us in both addressing the cancer challenge in one of the top global emerging healthcare markets, as well as in establishing a base for expanding Onko-Sure® use into the rest of South America."
"We are actively collaborating with our Brazilian partners for rapid regulatory progress and clinical lab adoption. Our first sale of kits is supporting these important efforts," added Chris Gee, Director of International Sales and Marketing for Radient.
For additional information on Radient Pharmaceuticals Corporation and its products visit: www.radient-pharma.com or e-mail info@radient-pharma.com. For Investor Relations contact Dilek Mir at: ir@radient-pharma.com or 714-881-0244.
The following table is intended to provide the latest information on Radient's business metrics:
---------------------------------------------
RPC's Business Metrics
---------------------------------------------
Cash on hand: $720,000*
*Approximate amount as of August 19, 2011
---------------------------------------------
Shares Outstanding: 198 million*
*Approximate number as of August 19, 2011
750 million shares to be authorized
---------------------------------------------
Outstanding Warrants & Options: 111 million*
*Approximate number as of August 19, 2011
---------------------------------------------
About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared In Vitro Diagnostic Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. The Company's focus is on the discovery, development and commercialization of unique high-value diagnostic tests that will help physicians answer important clinical questions related to early disease state detection, treatment strategy, and the monitoring of disease progression or recurrence. To learn more about our company, products, and potentially life-saving cancer test, visit www.radient-pharma.com.
Forward-Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
