Lpath Signs Collaboration and License Agreement With Provista Diagnostics to
Develop Cancer Diagnostics
SAN DIEGO, CA -- (Marketwire) -- 03/06/13 -- Lpath, Inc. (NASDAQ:
LPTN), the industry leader in bioactive lipid-targeted therapeutics,
has signed a collaboration and license agreement to develop cancer
diagnostics with Provista Diagnostics, Inc. a leader in molecular
cancer diagnostics and a CLIA-accredited reference laboratory.
The collaboration will focus on the bioactive lipid lysophosphatidic
acid (LPA), with the agreement granting Provista an exclusive license
to Lpath's murine LPA antibodies for use in clinical laboratory
applications involving the diagnoses of cancer.
Provista will initially conduct a prospective pilot study in ovarian
cancer patients and Lpath will measure levels of LPA from patient
plasma. Based on the results, additional studies may be conducted in
ovarian and other cancers. Lpath will receive an upfront payment,
research funding and development milestone payments, as well as
royalties on diagnostic-product revenue.
The American Cancer Society estimates more than 22,000 new cases of
ovarian cancer will be diagnosed in the United States this year,
leading to 14,000 deaths. While other cancers have shown a reduction
in mortality due to early detection tests and improved treatments,
this has not been so with ovarian cancer, the deadliest of all
"While our ImmuneY2(TM) technology platform is known for generating
therapeutic antibodies against disease, it also has potential utility
in diagnostic settings," said Lpath President and CEO Scott Pancoast.
"So by collaborating with Provista, a leader in molecular cancer
diagnostics settings, we believe we can develop tests that provide
early detection of ovarian cancer and that improve treatment
outcomes. This agreement also underscores the significant value and
capabilities of ImmuneY2 and further reinforces the importance of
bioactive lipids as disease-relevant molecules."
Dr. David Reese, CEO of Provista, commented: "Provista is committed
to advancing the standard of diagnostic care for women at risk or
suffering from ovarian and other cancers, and LPA is a potential
biomarker that could be critical to achieving this goal. We believe
the ability to detect bioactive lipids using Lpath's unique
technology will provide a distinct advantage in diagnosing
About Provista Diagnostics
Provista Diagnostics, Inc., develops and
commercializes breakthrough, easy-to-administer blood-based
diagnostic tests for early oncology-related disease state recognition
and detection purposes. The company's focus is on oncology-related
diagnostics where a significantly high unmet clinical need exists.
Near-term development and commercialization efforts focus on women's
cancers such as breast and ovarian cancer. For more about Provista is
available at www.provistadx.com.
San Diego-based Lpath, Inc., a therapeutic antibody
company, is the category leader in lipid-targeted therapeutics. The
company's ImmuneY2(TM) drug-discovery engine has the unique ability
to generate monoclonal antibodies that bind to and inhibit bioactive
lipids that contribute to disease. The company is developing three
drug candidates: iSONEP(TM) is being studied in a Phase 2 trial in
wet AMD patients; ASONEP(TM) is being studied in a Phase 2 trial in
renal cell carcinoma patients; and Lpathomab is a preclinical drug
candidate that holds promise in pain, neurotrauma, and other
diseases. For more information, visit www.Lpath.com.
Scott R. Pancoast
President & CEO
Tel: (858) 926-3200
Lpath Investor Relations
Liolios Group, Inc.
Tel: (949) 574-3860
Ron Both: email@example.com
Geoffrey Plank: firstname.lastname@example.org
Provista Diagnostics, Inc.
President & CEO
Tel: (917) 551-6960
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