FT. MYERS, Fla., Sept. 13, 2012
/PRNewswire/ -- NeoGenomics, Inc. (NASD OTC BB: NGNM),
a leading provider of cancer-focused genetic testing services,
announced today it has begun using a new proprietary software that
it developed for reading and interpreting Fluorescent in Situ
Hybridization ("FISH") digital data. The company will use
this software to further automate certain FISH analyses in its own
laboratories and will consider sub-licensing it to other
providers. The Company also announced that it has applied for
a utility patent on this methodology and the related software.
The proprietary software, which is based upon a sophisticated
machine learning technology known as Support Vector Machine
("SVM"), allows users to read and interpret specific types of FISH
images more accurately and more quickly. Laboratory
technologists and professionals can train different algorithms for
specific types of FISH images, and a library of files for reading
and interpreting various FISH probes can be easily compiled for
general use in any FISH laboratory that has a sublicense to the SVM
technology. The software can read and interpret most forms of
digital FISH data acquired manually or by an automated system.
NeoGenomics has validated and is currently implementing a
laboratory developed test using the new software to read ALK
rearrangement FISH tests, and plans to expand its use for other
FISH probes. FISH testing for ALK rearrangement is currently
performed manually and only 50 cells are counted by most
laboratories. This new computer-aided system enables a
significantly higher number of cells to be counted and allows for
increased accuracy and reduced subjectivity from case to
case. ALK testing is very important for selecting appropriate
therapy for lung cancer patients. The Company expects a
modest incremental reimbursement associated with ALK testing in
this initial application of SVM technology, because it will enable
the use of computer assisted FISH CPT codes for billing.
Douglas VanOort, the company's
Chairman and CEO, commented, "Development of this software is a
result of our commitment to offer innovative solutions and
uncompromising quality for cancer testing. This innovation
resulted from our licensing agreement with Health Discovery Corp,
which provides NeoGenomics the exclusive worldwide rights to use
SVM technology for all types of laboratory developed tests in
hematopoietic and solid tumor cancers. We expect SVM
technology will help us to automate certain manual testing
processes, provide more accurate results for those tests that were
previously dependent on subjective interpretations, and increase
the productivity of our lab operations. To our knowledge, we
are the first laboratory in the world to use SVM technology to
assist in reading and interpreting ALK FISH data."
Dr. Maher Albitar, the Company's
Chief Medical Officer and Director of Research and Development,
commented, "The science around using pattern recognition and
computer-aided algorithms has improved significantly in the past
few years. Our use of algorithms to interpret FISH digital
data is just one step in a series of planned activities to adapt
the SVM technology to cancer genetics testing. We believe
these types of algorithms will be instrumental in helping to answer
complex clinical questions and reducing the dependence on
subjective interpretations."
About NeoGenomics, Inc.
NeoGenomics, Inc. is a high-complexity CLIA-certified clinical
laboratory that specializes in cancer genetics testing, the fastest
growing segment of the laboratory industry. The company's
testing services include cytogenetics, fluorescence in-situ
hybridization (FISH), flow cytometry, immunohistochemistry,
morphology studies, anatomic pathology and molecular genetic
testing. Headquartered in Fort
Myers, FL, NeoGenomics has labs in Nashville, TN, Irvine, CA, Tampa,
FL and Fort Myers,
FL. NeoGenomics services the needs of pathologists,
oncologists, urologists and other clinicians, and hospitals
throughout the United States. For
additional information about NeoGenomics, visit
http://www.neogenomics.com.
About Health Discovery Corporation (OTCBB:
HDVY)
Health Discovery Corporation is a molecular diagnostics company
that uses advanced mathematical techniques, such as Support Vector
Machine (SVM) technology, 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 www.healthdiscoverycorp.com.
Forward Looking Statements
Except for historical information, all of the statements,
expectations and assumptions contained in the foregoing are
forward-looking statements. These forward looking statements
involve a number of risks and uncertainties that could cause actual
future results to differ materially from those anticipated in the
forward looking statements. Actual results could differ
materially from such statements expressed or implied herein.
Factors that might cause such a difference include, among others,
the company's ability to continue gaining new customers, offer new
types of tests, and otherwise implement its business plan. As a
result, this press release should be read in conjunction with the
company's periodic filings with the SEC.
SOURCE NeoGenomics, Inc.
