ANN ARBOR, Mich., June 13, 2019 (GLOBE NEWSWIRE) — Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) (TSX-V: ZOM), a veterinary diagnostic and pharmaceutical company, today announced that it has completed initial development work on a blood-borne lymphoma cancer assay intended for use with its canine cancer liquid biopsy platform.
According to the American Veterinary Medical Association, one in four dogs will develop cancer during their lifetime. Lymphomas represent approximately 10-25% of all cancers diagnosed in dogs.
The lymphoma assay, designated ZM-022, is designed to identify specific genetic abnormalities using fluorescence in situ hybridization (FISH). FISH tests are regularly used for cancers in human medicine, such as the HER2 breast cancer test. The assay is being developed for use on Zomedica’s liquid biopsy platform, which is expected to be available for sale in 2020.
As previously announced, Zomedica is also developing assays for the detection of hemangiosarcoma and osteosarcoma for use with its liquid biopsy platform, designated ZM-017. Lymphoma, osteosarcoma, and hemangiosarcoma are three of the top five most commonly diagnosed malignant canine cancers.
Zomedica expects that the out-of-pocket cost incurred by pet owners for these assays will be a fraction of the cost of current testing methods, which can be thousands of dollars depending on the presentation.
Lymphoma often presents with swollen lymph nodes, allowing for fine needle aspiration of the tumor for initial diagnosis. Zomedica’s biomarker study design included samples from B-cell and T-cell tumors as well as peripheral blood samples from lymphoma patients and healthy patients. Zomedica was able to identify these genetic abnormalities consistently to differentiate between cancerous and non-cancerous B-cells and T-cells on a peripheral blood draw. Additional prognostic tests involve the removal of a lymph node and can take at least a week or longer to obtain, delaying treatment and allowing for progression of this aggressive form of cancer.
Zomedica has submitted patent applications for its lymphoma assay.
“We are excited to add this important assay to the development work we are doing on our liquid biopsy platform,” said Dr. Stephanie Morley, Chief Operations Officer and Vice President of Product Development. “We expect that if we successfully complete the development of these assays, our liquid biopsy platform will offer veterinarians and their teams the opportunity to make better treatment decisions more quickly and at a lower cost compared to existing technologies, creating better outcomes for their patients and pet owners. The development of multiple assays for our liquid biopsy platform demonstrates the versatility of the platform.”
Zomedica anticipates beginning verification and branding efforts for its lymphoma assay by the fourth quarter of 2019 with validation to commence in 2020. Assuming successful completion of validation, Zomedica expects to commence commercialization of this platform and its initial assays in 2020.
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) (TSX-V: ZOM) is a veterinary diagnostic and pharmaceutical company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include novel diagnostics and innovative therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to give veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
- Email Alerts: http://investors.zomedica.com
- LinkedIn: https://www.linkedin.com/company/zomedica
- Facebook: https://www.facebook.com/zomedica/
- Twitter: https://twitter.com/zomedica
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: risks related to our ability to successfully complete the development of our liquid biopsy platform and the assays currently under development, including our lymphoma assay, uncertainty regarding our ability to develop assays that provide results as reliable as those provided by existing reference laboratory equipment, risks related to the verification, branding and validation of the liquid biopsy platform and related assays, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and pilot and pivotal studies, uncertainty as to the likelihood and timing of regulatory approvals, availability and cost of capital; uncertainty regarding demand for our liquid biopsy platform and the related assays; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection and the other risk factors disclosed in our filings with the Securities and Exchange Commission. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact:
Shameze Rampertab, CPA, CA
PCG Advisory Group
Kirin Smith, COO