Report Cites Potential of Lymphoseek® for Sentinel Lymph Node Delineation and RIGScan™ CR49 to Identify Tissue Harboring Tumor
Report is Available for Download at: http://lifesciadvisors.com/clients/neoprobe/
NEW YORK, NY –March 8th, 2011 – LifeSci Advisors, LLC, a leading provider of investment research and investor relations services in the life sciences sector, today announced that it has initiated coverage of Neoprobe Corporation (NYSE Amex: NEOP), a diversified developer of innovative oncology surgical and diagnostic products. Neoprobe is a world leader in gamma detection technology and is the only company marketing gamma detection devices working to optimize both radiotracers and gamma detection hardware.
“Lymphoseek, Neoprobe’s new small molecule radiopharmaceutical agent designed to detect lymph nodes during intraoperative lymphatic mapping procedures for patients with various forms of cancer, has the potential to become a ‘best in class’ imaging diagnostic,” said Andrew I. McDonald, Ph.D., Managing Director at LifeSci Advisors. “Lymphoseek displays a myriad of advantages over the current standard, Tc-99m-Sulfur Colloid, which is widely used off-label in the United States. Neoprobe’s second Phase III study for Lymphoseek, NEO3-09, has just reached accrual and data are expected soon. Following the results, we expect the Company to submit a New Drug Application to the US Food and Drug Administration. If approved, Lymphoseek represents an estimated global market potential of $450 million.”
In a 51-page Initiation Report by LifeSci Advisors, Lymphoseek’s clinical achievements to date are elucidated. NEO3-05, which was a Phase III, open-label, non-randomized prospective study of Lymphoseek in breast cancer and melanoma patients (n=179), demonstrated a 97.7% concordance rate between Lymphoseek and vital blue dye (p<0.0001). Additionally, the Company reported that Lymphoseek had a false negative rate approximately three times lower (7.3% vs. 19.5%) than vital blue dye alone. Earlier, in a Phase II study, Lymphoseek demonstrated a 99% success rate in identifying lymphatic tissue. In addition to NEO3-09 (n=~155), another Phase III trial, NEO3-06, is being conducted in patients (n=~180) with head and neck squamous cell carcinoma. This trial is designed to extend the NDA labeling for Lymphoseek to sentinel lymph node biopsy use and expand the range of cancers in which Lymphoseek has documented success.
Neoprobe is also engaged in clinical development for RIGScan that alerts the surgeon of tumor-involved tissue while in surgery and Activated Cellular Therapy, which is being explored by the Company’s subsidiary, Cira Biosciences. Previously, Neoprobe conducted a Phase III study, NEO2-14 (n=141), with Stage IV primary or recurrent colorectal cancer patients. This study showed that RIGScan contributed to a more than two-fold increase (21% versus 10%) in identification of occult tumors over conventional surgical resection methods (p<0.01). If approved, RIGScan could have a transformative effect on the Company with an estimated global market potential of $3 billion in colorectal cancer alone. The initiation report further discusses all of Neoprobe’s marketed and development-stage products, the Company’s history, relevant market dynamics, upcoming inflection points, and possible risks.
Dr. McDonald’s full Initiation Report is available to download at no cost at the LifeSci Advisors website, www.lifesciadvisors.com. In addition to this Initiation Report, LifeSci Advisors will also provide ongoing coverage and event-based research updates on the Company as developments occur.
The LifeSci Advisors research team is led by Dr. Andrew I. McDonald, an industry veteran with more than 15 years of healthcare industry experience. Prior to co-founding LSA, Dr. McDonald was the Senior Biotechnology Analyst at Great Point Partners, a leading health care investment firm with over $500 million under management. Before Great Point, he was Co-head of Healthcare Research and Lead Biotechnology Analyst at ThinkEquity Partners, a boutique investment banking firm focused on growth companies. Dr. McDonald holds a Ph.D. in organic chemistry from the University of California, Irvine, and, earlier in his career, worked as a medicinal chemist at both Pfizer and Cytokinetics.
About LifeSci Advisors:
LifeSci Advisors (LSA) is a leading research firm and communications consultancy dedicated to the life sciences industry. The firm provides strategic counsel, customized marketing communications, comprehensive research reports and investor relations services to companies that specialize in the discovery, development and commercialization of drugs, drug delivery systems, medical devices and diagnostics. To learn more about LSA, visit the company’s website, www.lifesciadvisors.com.
Important Disclosures:
The research report described in this press release is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell securities. The securities discussed in LSA research reports may be unsuitable for some investors depending on their specific investment objectives, financial status, risk profile, or particular needs. Investors should consider LSA reports as only a single factor in making their investment decisions and should not rely solely on these reports in evaluating whether or not to buy or sell the securities of the subject company. LifeSci Advisors has been compensated by the company that is the subject of the report described and future research reports, investor relations services, and general consulting services. Please read each report’s full disclosures and analyst background on the LSA website, www.lifesciadvisors.com, before investing. LifeSci Advisors is not a registered investment adviser or broker-dealer.
Forward-looking statements:
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking statements represent LSA’s judgment as of the date of this release. LifeSci Advisors disclaims, however, any intent or obligation to update these forward-looking statements.
