ITUS Receives Notice of Allowance for Second Key Cancer Technology Patent
SAN JOSE, Calif., Nov. 28, 2017 /PRNewswire/ -- ITUS Corporation (NASDAQ: ITUS), a company using the power of the immune system to diagnose and treat cancer, today announced that the United States Patent and Trademark Office ("USPTO") has issued a Notice of Allowance (NOA) on the second 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 diagnostic blood tests for early cancer detection.
The patent is titled, "SYSTEMS AND METHODS USING ARTIFICIAL NEURAL NETWORK ANALYSIS ON FLOW CYTOMETRY DATA FOR CANCER DIAGNOSIS", and the inventors are Dr. Amit Kumar, John Roop, and Anthony Campisi. This patent is assigned wholly to Anixa Diagnostics Corp. a wholly owned subsidiary of ITUS Corporation.
Dr. Amit Kumar, ITUS's Chairman and CEO, stated, "This is the second patent of our intellectual property estate protecting our proprietary early cancer detection technology. Our Cchek™ technology utilizes flow cytometry analysis of circulating white blood cells and Artificial Intelligence (Neural Network) to enable us to identify tumor bearing patients. Unlike other technologies that seek to identify DNA shed by tumors, or the tumor cells themselves that might be circulating in blood, or other markers coming directly from the tumor, our technology monitors subtle changes undergone by the host immune system in a tumor bearing person. We have already shown that these subtle changes are seen in 15 tumor types, and we feel that this methodology will work for all tumor types."
Dr. Kumar continued, "We are pleased to have received this Notice of Allowance, as this enables us to take our existing discussions with potential partners to the next level and to initiate discussions with new potential partners. Receiving the NOA is a major milestone in executing our business strategy of establishing one or more partnerships to commercialize our technology. Our goal is to work with partners who will contribute their infrastructure and investment to aid us with regulatory approvals as well as downstream commercialization including manufacturing, sales, and marketing."
While the initial focus will be on confirmatory testing, ITUS believes Cchek™ can eventually be used for multiple markets including confirmatory testing, recurrence testing, therapy monitoring, as well as screening. Existing confirmatory diagnostics for many cancers rely on traditional biopsies, which can be painful, expensive, and result in dangerous side effects. ITUS hopes its unique liquid biopsy approach will significantly improve upon current standards of care.
ITUS, a cancer-focused biotechnology company, is harnessing the body's immune system in the fight against cancer. Its wholly owned subsidiary, Anixa Diagnostics Corporation, is developing the CchekTM platform, 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. Its majority owned subsidiary, Certainty Therapeutics, Inc., is developing CAR-T based immuno-therapy drugs which genetically engineer a patient's own immune cells to fight cancer. ITUS also continually examines emerging technologies in complementary or related fields for further development and commercialization. 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 most recent Annual Report on Form 10-K 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™
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SOURCE ITUS Corporation
Released November 28, 2017
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