Trovagene Called Well-Placed in Global Molecular Diagnostic Industry by NASDAQ
News Jun 21, 2012
Standing in front of his management team, board of directors and special guests, Schuh reviewed Trovagene’s progress in developing faster, more accurate and less invasive diagnostics through urine analysis.
"Now we can watch how a cell in your body dies and releases its DNA into the bloodstream. That DNA signal travels through your kidney into your urine and there, we catch it," he said. "If somebody has a certain infectious disease, a virus, a bacterium...we can diagnose it in your urine."
For cancer patients, these diagnostic tools may help determine whether or not surgery to remove a cancer was completely successful. They may also help evaluate individual response to cancer therapy, and help determine if a patient is cancer-free following treatment. All of this may be possible without the need for additional blood, bone marrow or surgical biopsy specimens. The ability to perform complex molecular diagnosis on transrenal DNA, RNA and nucleic acids round in the urine make this possible. “We own that (technology), so we’re going to do it," Schuh stated.
Trovagene is headquartered in San Diego. Attending the closing bell ceremony were Trovagene founder and board member Gabriele Cerrone, other senior executives and board members, and a group of Fordham University business students who filled out the gallery.
NASDAQ Vice President David Wicks, executive host of the event, congratulated Trovagene for its May 30 NASDAQ listing and the success of its recent public offering. These developments, said Wicks, well-position Trovagene both in the capital markets and within the global molecular diagnostic industry, an industry with sales approaching $7 billion.
The recent public offering raised $10,580,000 million in gross proceeds. The company plans to use these to develop clinical diagnostics for oncology, infectious disease and potential acquisitions of other companies.
“Trovagene’s technology will enhance the likelihood that the right patient gets the right treatment at the right time, which is a welcome approach as the healthcare industry continues shifting to more personalized and individualized medicine,” said Wicks. “We look forward to watching Trovagene grow and innovate as a NASDAQ-listed company. We know you’re going to be back here celebrating more milestones."
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