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NEOP News Neoprobe Receives Clearance for Additional Lymphoseek Trials

DUBLIN, Ohio--(BUSINESS WIRE)--Neoprobe Corporation (OTCBB:NEOP), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced that Neoprobe has been granted authorization by FDA to commence patient enrollment in two Phase 1 clinical studies to evaluate the safety and efficacy of Lymphoseek^®, a lymphatic tissue targeting agent being developed by the Company, in prostate and colon cancers. The two studies are being undertaken at the University of California, San Diego and are being funded by grants provided by the National Cancer Institute.

David Bupp, Neoprobe’s president and CEO, said, “These trials will be an important step in demonstrating what we believe to be one of the strongest attributes of Lymphoseek; its potential ability to expand the use of Sentinel Lymph Node Biopsy in the staging and treatment of cancers beyond breast cancer and melanoma where it has already been widely accepted. To date, the preliminary clinical results from our previous Phase 1 trials and the ongoing Phase 2 trial, as well as the preclinical results that have been completed, confirm the potential of Lymphoseek. We believe the safety and efficacy of Lymphoseek will be further supported by the completion of multi-center studies as well as with these new Phase 1 trials. As we have indicated, we expect to announce top-line data for the first 40 patients involved in the ongoing Phase 2 breast cancer and melanoma trial during the first quarter following reporting of this data to FDA. The Phase 2 trial continues to satisfactorily progress despite a lengthier institutional review process and patient accession rate than were expected.”

About Neoprobe

Neoprobe is a biomedical company focused on enhancing patient care and improving patient outcome by meeting the critical intraoperative diagnostic information needs of physicians and therapeutic treatment needs of patients. Neoprobe currently markets the neo2000^® line of gamma detection systems that are widely used by cancer surgeons and is commercializing the Quantix^® line of blood flow measurement products developed by its subsidiary, Cardiosonix Ltd. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek^® and RIGScan^® CR. Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. www.neoprobe.com

Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company’s plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company’s products are forward-looking statements The words “believe,” “expect,” “anticipate,” “estimate,” “project,” and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company’s continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company’s most recent Annual Report on Form 10-KSB and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.