SAVANNAH, Ga. & MILFORD, Del., Mar 17, 2010 (BUSINESS WIRE) -- Health Discovery Corporation (OTCBB: HDVY) (HDC) and Smart Personalized Medicine, LLC (SPM) announced today that they have entered into development and related licensing agreements with Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services. Under the agreements, Quest Diagnostics will develop new laboratory tests for aiding in the selection of breast cancer therapies.
Under the terms of the agreements, HDC and SPM will receive upfront licensing payments, development fees and royalties on a per test basis from Quest Diagnostics.
In February 2009, Health Discovery Corporation announced that it had licensed rights to develop a new urine-based test for clinically significant prostate cancer to Quest Diagnostics.
About Health Discovery Corporation
Health Discovery Corporation is a molecular diagnostics company that uses advanced mathematical techniques to analyze large amounts of data to uncover patterns that might otherwise be undetectable. It operates primarily in the emerging field of personalized medicine where such tools are critical to scientific discovery. Its primary business consists of licensing its intellectual property and developing its own product line of biomarker-based diagnostic tests that include human genes and genetic variations, as well as gene, protein, and metabolic expression differences and image analysis in digital pathology and radiology. For more information, see http://www.healthdiscoverycorp.com.
About Smart Personalized Medicine, LLC
Smart Personalized Medicine, LLC was formed by Richard E. Caruso, Ph.D., to focus on and enable the development of a new methodology of accomplishing detailed breast cancer patient diagnosis and personalized individual treatment. In 2006, Caruso was named the E&Y National Entrepreneur of the Year for the United States following of his founding of Integra LifeSciences Corporation (NasdaqGS: IART). Health Discovery Corporation owns an equity position in Smart Personalized Medicine.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding future performance, opportunities and investments, and anticipated results in general. From time to time the Company may make other forward-looking statements relation to other matters, including without limitation, commercialization plans and strategic partnerships. Actual results may differ materially due to a variety of factors, including, among other things, the acceptance of our approach to applying mathematics computer science and physics into the disciplines of biology, organic chemistry and medicine and our products and technologies associated with those approaches, the ability to develop and commercialize new drugs, therapies or other products based on our approaches, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings.
All forward-looking statements and cautionary statements included in this document are made as of the date hereof based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement or cautionary statement.
SOURCE: Health Discovery Corporation, Smart Personalized Medicine, LLC, and Quest Diagnostics Incorporated
Health Discovery Corporation
Tom Gallagher, 203-918-3115
[email protected]
or
Smart Personalized Medicine, LLC
Richard E. Caruso Ph.D., 610-220-9315
[email protected]
or
Quest Diagnostics Incorporated
Investors
Kathleen Valentine, 973-520-2900
or
Media
Wendy Bost, 973-520-2800