ITUS Subsidiary Anixa Diagnostics Enters Into Collaborative Research Agreement With The Wistar Institute, a Leading Cancer Research Institute
LOS ANGELES, CA -- (Marketwired) -- 07/14/15 -- ITUS Corporation ("ITUS") (NASDAQ: ITUS), today announced that its wholly owned subsidiary, Anixa Diagnostics Corporation, has entered into a Collaborative Research Agreement with The Wistar Institute, located on the campus of the University of Pennsylvania in Philadelphia, Pennsylvania, to further the development of a cancer screening test. Founded in 1892 as the nation's first independent biomedical research institute, Wistar is an international leader in the biomedical research fields of cancer, immunology and infectious diseases, a National Cancer Institute (NCI)-designated Cancer Center, and part of the NCI's select network of national cancer research centers, holding an 'Exceptional' rating -- the highest possible ranking awarded.
Dr. Amit Kumar, Anixa's Executive Chairman and CEO stated, "Wistar is a highly focused research center. By collaborating with Wistar, we have access to its stellar scientists, infrastructure, and overall R&D capabilities. Such a collaboration enables us to begin our validation process quickly, enabling a speedier launch of our initial cancer screening test."
Dr. Frank Rauscher, III, Deputy Director of Wistar's Cancer Center, and who will serve as the Principal Investigator on this Anixa-Wistar collaborative project, stated, "When Dr. Kumar first approached us with the preliminary data and his ideas regarding the development of a process that could be the foundation of a cancer screening test, we immediately saw the potential. This cancer screening test could have a dramatic impact on the lives of many cancer patients and we look forward to working closely with Dr. Kumar and Anixa to perfect and validate the science necessary to make this screening test a reality."
Recent discoveries indicate that a very specific biomarker is present in the blood stream of patients with tumor based cancers. Anixa believes that the measurement and analysis of this biomarker could provide early indications of the presence of cancerous tumors, and would be an excellent candidate for a cancer screening test. Current methods to identify and measure this biomarker are cumbersome, expensive and unreliable. Anixa has identified alternative methodologies for identifying the biomarker, and through its collaboration with Wistar, expects to refine and corroborate these methodologies.
ITUS recently launched Anixa Diagnostics for the purpose of developing non-invasive, highly accurate, cost effective cancer screening tests. For more information on The Wistar Institute, please visit wistar.org.
ITUS funds, develops, acquires, and licenses emerging technologies is areas such as High-Tech, Biotechnology, Life Sciences, and Informatics. The company's wholly owned subsidiary, Anixa Diagnostics, is developing non-invasive, cancer screening tests. Additional information is available at www.ITUScorp.com.
The Wistar Institute is an international leader in biomedical research with special expertise in cancer research and vaccine development. Founded in 1892 as the first independent nonprofit biomedical research institute in the country, Wistar has long held the prestigious National Cancer Institute Cancer Center designation and works actively to ensure that research advances move from the laboratory to the clinic as quickly as possible. Wistar Science: Today's Discoveries, Tomorrow's Cures. www.wistar.org
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect ITUS Corporation's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2014 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
ITUS Corporation: FOCUSED ON INNOVATION™
Source: ITUS Corporation
Released July 14, 2015
Sign up for email Updates
Be The First to Receive Breaking NewsSign Up Now