PARIS, July 19, 2010 Biosystems International (BSI) SAS,Biotech Leader in the Development of Monoclonal Antibody Based Diagnosticsfor Cancer, Announced Today That it has Closed a Round of Funding Amountingto EUR2.1 Million ($2.7 Million).
Following the discovery of novel biomarkers for lung cancer, BSI launchedthe development of a new blood test for the detection of lung cancer in May,2009. To complete development of the test and bring it to the market in 2011,BSI has raised EUR2.1 million, primarily from its principle investors.
The signing of the investment agreement continues a successfulpartnership among the contracting partners extending over several years. "Therenewed commitment by our shareholders demonstrates their confidence in ourlung cancer program. These funds will help to accelerate our entry tomarket," said Jean-Pierre Tirouflet, Chief Executive Officer of BiosystemsInternational.
Lung Cancer Diagnosis
The lung cancer specific antibodies discovered by BSI demonstrate asensitivity and specificity superior to 80% following testing on severalclinical cohorts totaling over 700 cancer patients and controls (forcomparison, the PSA test for prostate cancer screening has a lowersensitivity and lower specificity).
These antibodies were discovered using the proprietary monoclonalantibody proteomics platform developed by BSI.
The new diagnostic test provides hope to millions of patients around theworld as it can detect the disease at an early stage when surgicalintervention is still possible, increasing dramatically the chances forsurvival. A simple non-invasive blood test for the early detection of lungcancer has the potential to dramatically increase the survival rate, savingmany lives and significantly lowering the financial burden to society.
About Biosystems International
Biosystems International (BSI) is a biotechnology company specializing inthe discovery and development of novel diagnostics for diseases with criticalunmet needs. Using our proprietary monoclonal antibody proteomics process BSIrapidly discovers novel biomarkers and corresponding antibodies in a singlestep.
The company is currently focused on the discovery and development ofdiagnostic tests in the areas of cancer and chronic diseases as well as thedevelopment and commercialization of antibody arrays for plasma proteomeprofiling.
Safe Harbor Statement
Except for historical information contained herein, statements made inthis release that would constitute forward-looking statements may involvecertain risks and uncertainties. All forward-looking statements made in thisrelease are based on currently available information and the company assumesno responsibility to update any such forward looking statements.Contacts - Jean-Pierre Tirouflet, President and CEO - William Hempel, Director of Scientific Communications - Tel : +33-1-60-87-89-75 - firstname.lastname@example.org
SOURCE BioSystems International