Acquisition of Cancer Diagnostic Product and Related Intellectual Property
12/11/2009
MoleMateTM enables early detection of cancerous moles
Farnham UK, 18 November 2009: Biocompatibles plc, the medical technology company, is pleased to announce the acquisition of the inventory and intellectual property assets of Astron Clinica Limited (“Astron”) (in administration). The gross assets acquired are £200,000 and the purchase has been funded out of existing cash resources.
Astron’s principal products, MoleMateTM and MoleViewTM broaden the product portfolio of Biocompatibles’ Oncology Products Division and are non-invasive melanoma visualisation, diagnostic and data storage systems that are sold to General Practitioners, Dermatologists and cancer screening clinics.
The technology is already in use, principally in Australia and in the UK and will be progressively launched into more territories during the course of 2010. The current year financial implications are covered within Biocompatibles’ financial guidance, which was updated on 4 November 2009.
The technology has been evaluated in three clinical trials which have recruited more than 1500 patients assessed with MoleMate. In the most recent, a substantial UK primary care trial, the rate of Sensitivity (True Positives) and Specificity (True Negatives), the key yardsticks of diagnostic tests, were 96% and 83% respectively 1; and compared favourably on both measures with benchmark rates from GPs using conventional techniques of 67% and 75% respectively.
Crispin Simon, Chief Executive Officer, commented:
“Most people are aware of the benefits of timely cancer screening. Melanoma is relatively easy to screen yet typically fatal if detected late. This technology delivers accurate results at an affordable cost in a location, such as a GP’s surgery, that is convenient to patients.”
Mr Per Hall, FRCS (Plast) Consultant Plastic and Reconstructive Surgery, commented:
“Mole-MateTM is essentially an ‘optical biopsy’ – an appealing concept to doctors and patients.”
Dr Graham Campbell, Galston Medical Centre, New South Wales, Australia, added:
“MoleMate gives you more information to base your judgement on. Previously I may have looked at a mole and put off doing anything. In one or two cases, when viewed through MoleMate they have been nastier than I thought and they were cut out."
1 Hunter et al: Data presented at the British Association of Dermatologists, July 2006
-ends-
A short video explanation of MoleMate (2m 30s) is available to download at http://siascopy.biocompatibles.com
Contact:
Biocompatibles +44 (0)1252 732732
Crispin Simon, Chief Executive
Ian Ardill, Finance Director
Anna Keeble +44 (0)7879 818876
Julian Walker +44 (0)20 7357 9477
Notes to editors
MoleMate™ is a non-invasive melanoma visualisation and diagnostic device, specifically designed for General Practitioners and other medical professionals not specialising in the diagnosis of malignant melanoma. It enables them to more efficiently and accurately make a decision to excise a lesion, or refer the patient to a Dermatologist or to immediately reassure the patient that their lesion is not suspicious.
General Practitioners, without a MoleMate, but who are willing to assess a suspicious lesion, currently typically use a seven-point test. MoleMate allows GPs to base their decisions on more extensive observations and the application of a clinically-validated software-based assessment system, thereby improving the quality of diagnosis and, ultimately, patient outcomes.
MoleView™, like MoleMate, is a non-invasive visualisation and diagnostic device but with added features designed for Dermatologists and other skin specialists.
Biocompatibles International plc (www.biocompatibles.com)
Biocompatibles International plc is a leading medical technology company in the field of drug-device combination products.
The Oncology Products Division supplies medical devices from facilities in Farnham, UK and Oxford, CT. These include Drug-Eluting Bead Products which are used in more than 35 countries for the treatment of primary liver cancer (HCC), liver metastases from colorectal cancer, and other cancers; and Brachytherapy products (Radiation-Delivering Seeds) which are used in the treatment of prostate cancer. Our distribution partners include AngioDynamics Inc., Terumo Corporation and Eisai Co. Ltd. We have a clinical collaboration agreement with Bayer Healthcare Pharmaceuticals Inc.
Our Licensing Division includes CellMed, in Alzenau, Germany, which is developing a Drug-Eluting Bead product for the treatment of stroke, based on proprietary stem cell technology; a GLP-1 analogue for the treatment of diabetes and obesity partnered with AstraZeneca; and a cosmetic Dermatology Bead partnered with Merz Pharmaceuticals GmbH. We also have a PC Licensing agreement with Medtronic Inc. in the field of Drug-Eluting Stents.
This news release contains forward-looking statements that reflect Biocompatibles’ current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of Biocompatibles’ research strategy, the applicability of the discoveries made therein, the successful and timely completion of clinical studies and the uncertainties related to the regulatory and commercialisation processes.