ITUS Receives Notice of Allowance for First Cancer Technology Patent
LOS ANGELES, CA -- (Marketwired) -- 05/10/17 -- ITUS Corporation ("ITUS") (NASDAQ: ITUS), a company using the power of the immune system to diagnose cancer, today announced that the United States Patent and Trademark Office ("USPTO") has issued a Notice of Allowance on the first patent filed by the company to protect its cancer detection technology. ITUS is developing a platform called Cchek™ from which it expects to launch a series of non-invasive, inexpensive cancer diagnostic blood tests.
Robert Berman, ITUS's President and Chief Executive Officer stated: "This is the first of what we hope will be several patents that we expect to receive to protect our cancer detection technology. We currently have one additional patent application pending at the USPTO and expect to file for additional patent protection as our research and development continues."
ITUS previously announced preliminary success using its technology to detect several types of cancer including lung cancer, breast cancer, colon cancer, and prostate cancer, the four largest causes of worldwide cancer mortalities. Existing confirmatory diagnostics for many cancers rely on traditional biopsies, which can be painful, expensive, and result in dangerous side effects. ITUS's unique liquid biopsy approach utilizes immune based biomarkers, which the company hopes will significantly improve upon current standards of care. ITUS expects to be ready to select its first diagnostic blood test for commercialization and initiate a new clinical trial later this year, once it completes its initial research and development.
ITUS funds, develops, acquires, and licenses emerging technologies in areas such as biotechnology. The Company is developing a platform called Cchek™, a series of non-invasive blood tests for the early detection of solid tumor based cancers, which is based on the body's immunological response to the presence of a malignancy. 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, 2016 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 May 10, 2017
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