BEIJING, July 15 /PRNewswire-Asia/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that its HER-2 FISH probe has been chosen to be used in a research project focusing on cancer targeted therapy standardization, as well as early cancer detection and treatment, which is sponsored by the Chinese Ministry of Health. One of the subjects of this research project is to standardize the process and procedures for the use of FISH technology to detect HER-2 gene amplification in breast cancer and stomach cancer patients to guide the use of Herceptin (the "HER-2 Study"). The Company is the supplier of HER-2 FISH probe for the HER-2 Study.
Immunohistochemistry used to be the traditional diagnostic method in detecting HER-2 gene amplification in China, but it has false positive and false negative results. The HER-2 Study is the first study in China to include FISH technology as the gold standard in HER-2 gene amplification detection. The Company believes that the results of the HER-2 Study may contribute to more widespread use of its HER-2 FISH probe in the companion diagnostic test market in China for guiding treatment for breast cancer and stomach cancer. According to the Chinese Central Government's Official Web Portal, about 200,000 new cases of breast cancer and 400,000 new cases of stomach cancer are diagnosed in China each year.
"We believe that our selection as the supplier of HER-2 FISH probe in the HER-2 Study by the top ranking cancer research institute demonstrates the good quality of our HER-2 FISH probe," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company.
The HER-2 Study is led by the Cancer Institute and Hospital of the Chinese Academy of Medical Sciences with Dr. Yuankai Shi as the principal investigator.
About China Medical Technologies, Inc.
China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales force and ECLIA reagent kits to small and mid-size hospitals through distributors. For more information, please visit http://www.chinameditech.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including the risk that the results of the HER-2 Study will not lead to increased use of the Company's HER-2 FISH probe. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
