Guided Therapeutics, Inc. (GT) (OTCBB: GTHP) today announced that it was awarded $1.0 million to fund the second year of a $2.5 million grant from the National Cancer Institute (NCI) announced in 2009.
“We believe that the award continuation also indicates a high level of confidence in our technology by the NCI reviewers.”
The three-year grant provides additional resources to commercialize and bring to market the LightTouch™ non-invasive cervical cancer detection device and single-patient-use disposable.
"The continuation of the grant provides additional non-dilutive resources for us to complete the regulatory process, include design enhancements and begin manufacturing LightTouch devices and disposables," said Mark L. Faupel, Ph.D., President and CEO of GT. "We believe that the award continuation also indicates a high level of confidence in our technology by the NCI reviewers."
GT has been awarded approximately $6 million in six consecutive grants from the NCI to develop the new, pain-free test for detecting cervical disease.
The GT LightTouch technology scans the cervix with light to identify cancer and pre-cancer painlessly and non-invasively. The technology distinguishes between normal and diseased tissue, by detecting biochemical and morphological changes at the cellular level. Unlike Pap or HPV tests, the LightTouch test does not require a tissue sample or laboratory analysis, and is designed to provide results immediately. The technology is designed as a device employing a single-use disposable patient interface.
Results of a multi-center pivotal clinical trial showed that LightTouch detected cervical disease up to two years earlier than Pap test, HPV test, colposcopy and biopsy. The LightTouch is designed to detect disease early, when treatment is most effective, and to eliminate unnecessary testing saving the healthcare system money. For more information on the clinical trial, visit www.guidedinc.com/asccp2010.htm.
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