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Radient Pharmaceuticals signs distribution agreement with Tarom

Posted on: Wed, 07 Oct 2009 13:17:00 EDT

Symbols: ADL

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Oct 07, 2009 (Datamonitor via COMTEX) --
ADL | Quote | Chart | News | PowerRating -- Radient Pharmaceuticals, a US-based pharmaceutical company, through its wholly-owned subsidiary AMDL Diagnostics, has entered into a two-year distribution agreement with Tarom Applied Technologies, an Israeli distributor of biomedical products, for the marketing and sales of its Onko-Sure in vitro diagnostic or IVD cancer test.

This agreement reportedly marks the advanced business milestone in the Radient Pharmaceuticals's commercialization strategy for Onko-Sure.

Under the terms of the partnership agreement, Tarom will market and distribute Onko-Sure to medical centers, hospitals, clinical laboratories, university labs, and Ministry of Health labs throughout Israel. This includes implementing a marketing strategy to drive product awareness, engage healthcare decision makers and thought-leaders, lab directors, physicians, and patients and healthcare consumers throughout Israel.

Currently, Onko-Sure is used as an IVD pan cancer screening and monitoring tool in Taiwan, Korea, India, and Vietnam. It is an FDA cleared IVD cancer test for the monitoring of colorectal cancer, Radient Pharmaceuticals said.

Douglas MacLellan, chairman and CEO of Radient, said: "Tarom has the expertise to rapidly commercialize Onko-Sure over the course of a renewable two-year period. This supports Radient Pharmaceuticals' highest priority - to create significant value for our shareholders while providing a diagnostic solution and product leadership in what is one of the most critical areas of life sciences and healthcare - in vitro cancer diagnostics."

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