ITUS Subsidiary Anixa Diagnostics Corporation Demonstrates Efficacy of Early Cancer Detection Platform With Lung Cancer
LOS ANGELES, CA -- (Marketwired) -- 04/19/16 -- ITUS Corporation ("ITUS") (NASDAQ: ITUS) today announced that its wholly owned subsidiary, Anixa Diagnostics Corporation, has successfully demonstrated that its Cchek™ early cancer detection platform can be used to identify the presence of lung cancer. The company will now expand its ongoing biomarker study to include additional lung cancer samples. Anixa previously announced results from the study with breast cancer patients.
"The most common method currently used for lung cancer screening is Low Dose Computer Tomography (LDCT), an often ineffective approach that generates numerous false positive results," said Dr. Amit Kumar, ITUS's Executive Chairman and Anixa's CEO. "To verify the results of LDCT, a biopsy is often utilized, requiring one of three procedures: a needle is inserted through the chest and into the lung to remove tissue; surgery through the chest wall between the ribs; or a bronchoscope inserted through the mouth or nose enabling removal of lung tissue. All of these techniques are extremely painful and costly. With further study and validation of our technology, our hope is to reduce the number of traditional lung biopsies."
Lung cancer is the leading cause of death among cancers in the U.S., accounting for approximately 27 percent of all cancer related deaths. Breast cancer is the second leading cause of cancer related deaths. Developing a platform with the potential to work on both lung cancers and breast cancers would have enormous potential. Anixa is working with the Wistar Institute, a National Cancer Institute-designated Cancer Center, that is located on the campus of the University of Pennsylvania in Philadelphia, PA, to develop a platform to launch non-invasive, highly accurate, cost effective cancer screening blood tests.
ITUS funds, develops, acquires, and licenses emerging technologies in areas such as biotechnology. The Company's wholly owned subsidiary, Anixa Diagnostics Corporation, is developing a platform called Cchek™, a series of non-invasive, blood tests for the early detection of solid tumor based cancers. Additional information is available at www.ITUScorp.com.
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, 2015 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 April 19, 2016
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