JAMA Pediatrics Study Highlights Cancer Risk Associated with CT Scans

    JAMA Pediatrics Study Highlights Cancer Risk Associated with CT Scans

Abdominal Scans Associated with Highest Risk and Most Dramatic Increase in Use

PR Newswire

CASTLE ROCK, Colo., June 13, 2013

CASTLE ROCK, Colo., June 13, 2013 /PRNewswire/ --Venaxis, Inc. (Nasdaq:
APPY), an in vitro diagnostic company focused on obtaining FDA clearance and
commercializing its CE Marked APPY1 Test, a rapid, protein biomarker-based
assay for identifying patients at low risk for appendicitis, today announced
its support of key findings from a large retrospective study that was
published earlier this week in the peer-reviewed medical journal JAMA
Pediatrics. The study concluded, among other things, that the risk of
radiation-induced solid cancers was highest for patients undergoing CT scans
of the abdomen/pelvis and that abdominal/pelvic scans saw the most dramatic
increase in use over the study period, especially among older children.
Possible appendicitis was cited as a leading cause of abdominal/pelvic CT
usage.

Importantly, the authors of the study concluded that reducing unnecessary CT
scans in favor of other imaging or non-imaging approaches (if proven through
research to be as effective), combined with effective radiation dose-reduction
strategies, could dramatically reduce the number of radiation-induced cancers.

Steve Lundy, President and CEO of Venaxis, stated, "The findings of this large
observational study are aligned with our focus – developing a blood-based
APPY1 Test to aid physicians in identifying patients at low risk for acute
appendicitis. We applaud the authors of the study for reporting these
findings and for highlighting the urgent need for research to determine when
the use of CT scans leads to improved health outcomes and when other imaging
and non-imaging diagnostic techniques could be as effective. The APPY1 Test
is designed to provide rapid, objective results and has demonstrated high
negative predictive value for appendicitis in clinical studies. Venaxis' goal
with the APPY1 Test is to provide physicians withan additional tool that
mayallow for more conservative patient management, including reducing the
number of CT scans."

The JAMA Pediatrics study measured the rate of CT scan use (from 1996 to 2010)
and the dose of ionizing radiation (for CT scans performed between 2001 and
2011) in children younger than 15 years of age, and estimated the lifetime
attributable risks of certain cancers. The projected lifetime attributable
risk of developing solid cancers was higher for patients who underwent CT
scans of the abdomen/pelvis or spine than for patients who underwent other
types of CT scans. The risk was highest for younger patients and for girls,
with a radiation-induced solid cancer projected to result from every 300 to
390 abdomen/pelvis scans.

About Venaxis, Inc.
Venaxis, Inc. is an in vitro diagnostic company focused on the clinical
development and commercialization of its CE Marked APPY1 Test, the Company's
rapid, protein biomarker-based assay for appendicitis. This unique
appendicitis test has projected high sensitivity and negative predictive value
and is being developed to aid in the identification of patients at low risk
for acute appendicitis, allowing for more conservative patient management.
The APPY1 Test is being developed initially for pediatric, adolescent and
young adult patients with abdominal pain, as this population is at the highest
risk for appendicitis and has the highest risk of long-term health effects
associated with CT imaging. While FDA clearance is being sought, an initial
launch for the APPY1 Test is ongoing in select European countries. For more
information, visit www.venaxis.com.

Forward-Looking Statements

This press release includes "forward-looking statements" of Venaxis, Inc.
("Venaxis") as defined by the Securities and Exchange Commission ("SEC"). All
statements, other than statements of historical fact, included in this press
release that address activities, events or developments that Venaxis believes
or anticipates will or may occur in the future are forward-looking statements.
These statements are based on certain assumptions made based on experience,
expected future developments and other factors Venaxis believes are
appropriate in the circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of
Venaxis. Investors are cautioned that any such statements are not guarantees
of future performance. Actual results or developments may differ materially
from those projected in the forward-looking statements as a result of many
factors, including our ability to successfully complete required product
development and modifications in a timely and cost effective manner, complete
clinical trial activities for the APPY1 Test required for FDA submission,
obtain FDA clearance or approval, maintain CE Marking, cost effectively
manufacture and generate revenues from the APPY1 Test at a profitable price
point, execute agreements required to successfully advance the company's
objectives, retain the management team to advance the products, overcome
adverse changes in market conditions and the regulatory environment, obtain
and enforce intellectual property rights, and realize value of intangible
assets. Furthermore, Venaxis does not intend (and is not obligated) to update
publicly any forward-looking statements. The contents of this press release
should be considered in conjunction with the risk factors contained in
Venaxis' recent filings with the SEC, including the prospectus filed on May
24, 2013.

For Investors and Media:
Tiberend Strategic Advisors, Inc.
Joshua Drumm, PhD
jdrumm@tiberend.com; (212) 375-2664
Claire Sojda
csojda@tiberend.com; (212) 375-2686

SOURCE Venaxis, Inc.

Website: http://www.venaxis.com