Vigilant Biosciences™ Announces Agreement with Biotech-IgG AB for Exclusive Distribution of the OncAlert Oral Cancer Risk Assessment System™ in Scandinavia
COLOGNE, Germany, March 11, 2015 /PRNewswire/-- IDS 2015, Hall 4.2 Booth #N049 – Vigilant Biosciences, Inc. ("Vigilant"), a leading innovator and developer of solutions that aid in the early detection and intervention of cancer, announced today that it has entered into a three-year exclusive sales and marketing agreement with Biotech-IgG AB for the distribution of the OncAlert Oral Cancer Risk Assessment System in Denmark, Norway and Sweden. The OncAlert Oral Cancer Risk Assessment System includes a rapid, point-of-care risk assessment test (OncAlert POC Test) and a quantitative, laboratory test (OncAlert LAB Assay).
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Under the terms of the agreement, Biotech-IgG AB will exclusively market and sell the OncAlert POC Test and OncAlert LAB Assay to the dental and oncology markets in Scandinavia, pursuant to the CE Mark registration approvals of the products, which are expected in Q2 2015. Financial terms were not disclosed.
Headquartered in Lund, Sweden, Biotech-IgG AB is a leading supplier of products for medical diagnostics and research, routine, and process applications for the life science industry.
"Our agreement with Biotech-IgG for the sale of our OncAlert System in Scandinavia represents our first European Union market partner and is a significant step for Vigilant as we prepare to launch our oral cancer risk assessment system globally through strategic commercialization partnerships," said Matthew H.J. Kim, Founder, Chairman, and CEO of Vigilant Biosciences, Inc. "Hundreds of thousands of people continue to suffer from this disease each year, and many are diagnosed when the cancer is already at a late stage. Our mission is to work with our worldwide partners, such as Biotech-IgG, to enhance the lives of patients by providing products that enable earlier detection and intervention."
"We are pleased to be named the exclusive distributor of the OncAlert System in the Scandinavian market," said Dario Kriz, Ph.D., CEO of Biotech-IgG AB. "This innovative, and effective system will enable healthcare professionals to more accurately and quickly assess the risk of oral cancer in their patients. There is currently no other solution on the market that takes this approach to oral cancer detection, and we are confident that it will help save lives."
The OncAlert Oral Cancer Risk Assessment System is based on patented technology that detects specific protein markers known to indicate an elevated risk for oral cancer, even prior to the observation of visual or physical symptoms. The simple, oral rinse procedure is easy to administer and non-invasive for the patient. The test can be applied to every adult, with particular emphasis on high-risk populations (i.e, current and former tobacco users, those who consume alcohol, and people with human papillomavirus (HPV). Both the rapid point-of-care test and the lab assay that comprise the OncAlert Oral Cancer Risk Assessment System are currently under the CE Mark registration approval process and expected for release in Q2 2015.
About Oral Cancer
According to the World Health Organization, there are over 600,000 new cases of head and neck cancer and 300,000 deaths each year worldwide. While Head and Neck Squamous Cell Carcinoma (HNSCC) is approximately 1% to 2% of the total cancers diagnosed in Scandinavia each year, the prevalence of this type of cancer is growing due to risk factors such as, drinking, smoking and HPV. Historically the death rate associated with this cancer is particularly high due to late-stage diagnosis and intervention. Currently, the vast majority of patients are detected through a visual exam and/or are symptomatic, at which point they are likely late stage. As a result, oral cancer often goes undetected to the point of metastasizing. Early diagnosis of oral cancer results in a cure rate of up to 90 percent.
About Biotech-IgG
Biotech-IgG is a supplier of a wide range of high quality products for medical diagnostics and research, routine and process applications for life science and food industries. Biotech-IgG Group's vision is to become the leading Scandinavian distributor of immune diagnostics and life science products to the healthcare industry and also offers a full line of proprietary products for a well-defined group of customers operating in the production, development and analysis of proteins, mainly antibodies.
About Vigilant Biosciences, Inc.
Vigilant Biosciences is a leading innovator and developer of solutions that aid clinicians in the early detection and intervention of cancer. Its point-of-care and lab-based products are accurate, effective and affordable, empowering healthcare practitioners to easily assess the risk of oral cancer early, and improve outcomes through earlier intervention. Vigilant Biosciences' OncAlert Oral Cancer Risk Assessment System™ point-of-care and lab assay products are currently undergoing the CE Mark registration approval process and not yet available for sale in any market at this time. For more information, visit www.vigilantbiosciences.com.
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