HDC signs agreement to receive clinical specimens for colon cancer molecular diagnostic test

Feb 11 2010

Health Discovery Corporation (OTCBB: HDVY) announced today that the Company has entered into an exclusive agreement with the Pancreas, Biliary and Liver Surgery Center of New York at Saint Vincent Catholic Medical Centers in New York City to provide clinical specimens to be utilized to complete the final validation of HDC's molecular diagnostic test for colon cancer. This test demonstrated a 93% Sensitivity and a 93% Specificity in a previous validation study.

“If we are successful in finding the molecular signature in blood as we were in tissue, HDC will have both a tissue-based colon cancer test to be used on biopsy specimens as well as a blood test which can be used as a screening test for colon cancer”

Today’s announcement is in addition to last week’s press release announcing a new collaboration with the Pancreas, Biliary and Liver Surgery Center of New York related to the discovery of a new molecular diagnostic test for pancreatic cancer.

There are an estimated 1.2 million new cases of colorectal cancer worldwide and approximately 637,000 deaths from the disease.

“We are very excited about the results of our previous validation study and look forward to achieving the same success in this final validation," said Stephen D. Barnhill, M.D., Chairman and CEO of Health Discovery Corporation. “If we are successful in finding the molecular signature in blood as we were in tissue, HDC will have both a tissue-based colon cancer test to be used on biopsy specimens as well as a blood test which can be used as a screening test for colon cancer,” said Dr. Barnhill.

Under the terms of the agreement, the Pancreas, Biliary and Liver Surgery Center of New York will provide specimens from their collected specimen banks, as well as blood and tissue specimens on all new patients along with all associated clinical and outcomes data.

Health Discovery Corporation owns all of the intellectual property and commercialization rights to this molecular diagnostic test for colon cancer and HDC intends to partner with a large clinical laboratory for development, marketing and commercialization of this new colon cancer test.

In developing this new molecular diagnostic test for colon cancer, Health Discovery Corporation employed the same discovery process that led to the urine-based prostate cancer test that is licensed for development and commercialization to Quest Diagnostics (NYSE: DGX) and Abbott (NYSE: ABT) on a royalty-based, world-wide co-exclusive basis.