Cancer Genetics, Inc. Announces 25th Contract Win to Provide Testing & Diagnostic Services for Combination Immuno-Oncology Clinical Trial
- Nearly half of the 50+ Immuno-Oncology Clinical Trials that CGI is supporting are combination trials involving multiple oncology drugs.
- CGI expects enrollment of over 4,500 patients into these combination Immuno-Oncology trials with leading pharma and biotech companies globally.
RUTHERFORD, N.J. and LOS ANGELES, Sept. 20, 2017 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (“CGI” or the “Company”) (Nasdaq:CGIX), a leader in enabling precision medicine for oncology through molecular markers and diagnostics, announced today it has closed its 25th contract to support a drug combination trial for immuno-oncology agents.
These combination trials are with leading pharmaceutical or biotech companies and are focused on providing biomarker based testing, companion diagnostic services or new test development for patient measurement and monitoring where an immuno-oncology (I-O) drug is being used with another oncology therapy. The majority of these trials involve testing for multiple types of markers including immune-markers, such as PD-1, PD-L1, and CTLA-4 and other targeted genomic markers, to help understand potential for patient response and to monitor therapy effectiveness. The number of patients receiving both an I-O agent and another therapy is expected to grow rapidly as large pharmaceutical companies such as Merck, Bristol-Myers Squibb, Roche, and AstraZeneca continue advancing I-O pipelines into approved cancer therapies. CGI expects that these 25 I-O combination trials alone will enroll over 4,500 patients and require testing using a variety of technologies and platforms at CGI’s oncology centers of excellence in New Jersey, California and North Carolina.
“Achieving the goal of closing 25 leading-edge I-O combination clinical trial contracts is a major milestone for our Company and a testament to the depth and quality of our portfolio and the capabilities of our team members,” said Panna Sharma, President & CEO of Cancer Genetics, Inc. “Combination approaches in oncology therapy not only present a potentially dramatic advancement for cancer patient care, but also introduce new complexities in diagnostic testing, measurement, monitoring, safety, and data analysis in the clinical trial setting. With nearly half - 25 of the over 50 - I-O clinical trials that we support being combination trials measuring multiple biomarkers and pathways, we are well positioned to partner with leading global biopharmaceutical companies in bringing innovative cancer treatments to patients.”
Clinical trials and studies where an immuno-oncology drug is being used in combination with another therapy have increased nearly threefold over the past 2 years to over 780.1
According to Mr. Sharma, “Combination oncology trials now demand measuring and monitoring beyond genomics, and integrating data from proteomics, immunophenotyping and cellular interactions. We believe as the range and complexity of combination oncology therapies increase, biotech and pharma companies will have the need to partner with innovative companies that can combine innovative new technologies as part of study design and early development, and also deliver industrial-scale, clinically ready tests for patient monitoring and diagnostic use once the therapies are approved. CGI has been uniquely poised to provide this integrated, bench to bedside capability; one that is exceptional in the landscape of oncology providers.”
ABOUT CANCER GENETICS
Cancer Genetics, Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, India and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetics, Inc.’s expectations regarding the completion, timing, pricing and size of the offering described in this press release constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the Quarter ended June 30, 2016 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.
1 Pharmaceutical Research and Manufacturers of America, The American Cancer Society Cancer Action Network. Medicines in Development 2017 Report: Immuno-oncology. 2017; http://www.phrma.org/medicines-in-development-immuno-oncology.
INVESTOR RELATIONS CONTACT:
The Piacente Group, Inc.
Released September 20, 2017