Health & Fitness
Health and Fitness
Health and Fitness
Mon, February 9, 2009
Sun, February 8, 2009
Fri, February 6, 2009
Thu, February 5, 2009
Health Discovery Corporation Licenses Biomarkers for Noninvasive Urine-Based Prostate Cancer Test to Quest Diagnostics
SAVANNAH, Ga.--([ BUSINESS WIRE ])--Health Discovery Corporation (OTCBB:HDVY), a molecular diagnostics company, today announced that it has licensed rights to develop a new urine-based test for clinically significant prostate cancer to Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services. Under the terms of the agreement, HDC will receive payments, royalties and additional undisclosed financial considerations.
"We are pleased to work with Quest Diagnostics on the development of an exciting new noninvasive test for clinically significant prostate cancer," stated Stephen D. Barnhill, M.D., Chairman and CEO of Health Discovery Corporation. "Quest Diagnostics performs testing for more than half a million patients each day, serving approximately half of the physicians and hospitals in the United States. It is an ideal clinical laboratory to use our markers for developing a test as an aid in detecting prostate cancer."
Prostate cancer is the second leading cause of cancer mortality among men in the United States behind lung cancer. According to the American Cancer Society, 232,000 new cases of prostate cancer will be diagnosed in the U.S. and an estimated 30,350 deaths will occur from this disease. Furthermore, more than 350,000 patients worldwide are diagnosed with prostate cancer every year. More than 45 million PSA blood tests are currently performed annually worldwide.
About Health Discovery Corporation
Savannah-based Health Discovery Corporation (OTCBB: HDVY) is uniquely positioned in the field of pattern recognition technology. Through the application of its patent protected technology, HDC is a leader in SVM-based molecular diagnostic and prognostic test development in genomics and proteomics, as well as, digital image analysis in pathology and radiology. The Company's SVM and FGM pattern recognition tools have significant application potential in other sizable commercial markets such as oil exploration, financial markets, Internet search and spam, homeland security, and other areas where analysis of large volumes of complex data is required.
This communication contains certain forward-looking statements. These forward-looking statements, which may include, but are not limited to, statements concerning the proposed acquisition, are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Certain of these risks and uncertainties may include, but are not limited to the risks and uncertainties described in the Quest Diagnostics Incorporated 2006 Form 10-K and subsequent filings.
