Press Release Source: CytoCore, Inc.
CORRECTING and REPLACING CytoCore, Inc. Establishes New Office in Bio-Pharma Hub
Tuesday February 13, 4:58 pm ET
e2 Collector(TM) and Other Reproductive Cancer Screening and Treatment Tools Move Toward Distribution
PRINCETON, N.J.--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
CYTOCORE, INC. ESTABLISHES NEW OFFICE IN BIO-PHARMA HUB
e2 Collector(TM) and Other Reproductive Cancer Screening and Treatment Tools Move Toward Distribution
CytoCore, Inc. (OTCBB:CYCR - News), the late-stage bio-scientific research and medical device company for early reproductive cancer treatment, today announced the opening of its new office in this well-known hub for leading-edge solutions to women's health issues.
"As our suite of early screening, diagnostic and treatment tools moves from the research to production stage, CytoCore wants to be poised to tap into the extensive concentration of capabilities in New Jersey's thriving bio-pharmaceutical business community," said Dr. Augusto Ocana, the Company's chief executive officer, who will be based in the new Princeton, N.J., office. "We're positioning ourselves for an optimal transition into the distribution phase for our endometrial, uterine and cervical cancer products."
Currently engaged in clinical trials for an upgrade to the FDA-cleared e2 Collector sampling device, CytoCore expects upon FDA clearance to be in production by early summer. The new balloon sampling method -- the first significant upgrade to the Pap test in 50 years -- is designed to enhance the thoroughness and consistency of cell collections for the Pap smear performed annually on some 180 million women worldwide. Feasibility studies are underway to evaluate the use of cells collected by the e2 Collector for HPV testing.
"We expect to be ready for volume production by mid-summer, producing up to 800,000 units a month on one shift," Dr. Ocana said. "Not only will we be offering a more cost-effective sample collection method, we're also improving the patient's comfort through our new, non-invasive collection procedure and the physician's confidence in the quality of that sample. We believe that our niche strategy will allow us to drive our products into the markets worldwide."