PHILADELPHIA, PA and REHOVOT, ISRAEL -- (Marketwire) -- 06/19/12 -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostic tests, today announced that the designated Medicare Administrative Contractor ("MAC") for the Company's miRview® mets² assay has determined the assay to be reasonable and necessary for the diagnosis of cancers of unknown origin in a specified setting and has established a reimbursement rate for the assay. The coverage decision can be found at the following link: https://www.novitas-solutions.com/bulletins/all/news-06152012.html. The miRview® mets2 assay accurately identifies the primary tumor of origin in primary and metastatic cancer including Cancer of Unknown or Uncertain Primary ("CUP").
"This is another critical commercial milestone for Rosetta Genomics as equitable reimbursement is one of the key drivers for clinical and commercial adoption of the technology. We are pleased with the coverage and the reimbursement amount that the designated MAC has established. The reimbursement amount is commensurate with the clinical value of miRview® mets² and is consistent with assays of similarly high clinical value," noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "New tumor specific and molecularly-targeted oncology drugs are driving the need for accurate identification and classification of tumor types in order to optimize treatment and improve patient outcomes. With approximately 180,000-220,000 CUP patients per year in the U.S., this represents a large market opportunity for Rosetta Genomics."
About miRview® Products
miRview® are a series of microRNA-based diagnostic products offered by Rosetta Genomics. miRview® mets² accurately identifies the primary tumor type in primary and metastatic cancer including Cancer of Unknown Primary (CUP). miRview® squamous accurately identifies the squamous subtype of non-small cell lung cancer, which carries an increased risk of severe or fatal internal bleeding and poor response to treatment for certain therapies. miRview® meso diagnoses mesothelioma, a cancer connected to asbestos exposure. miRview® lung accurately identifies the four main subtypes of lung cancer using small amounts of tumor cells. miRview® kidney accurately classifies the four most common kidney tumors: Clear Cell Renal Cell Carcinoma (RCC), Papillary RCC, Chromophobe RCC and Oncocytoma. miRview® tests are designed to provide objective diagnostic data; it is the treating physician's responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the miRview® mets² test, 60,000 from miRview® squamous, 60,000 from miRview® meso, 54,000 from miRview® kidney and more than 1 million patients worldwide from miRview® lung. The Company's tests are offered directly by Rosetta Genomics in the U.S., and through distributors around the globe. For more information, please visit www.mirviewdx.com. Parties interested in ordering the test can contact Rosetta Genomics at (215) 382-9000 ext. 309.
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