ALAMEDA, Calif., Aug. 07, 2017 (GLOBE NEWSWIRE) -- OncoCyte Corporation (NYSE MKT:OCX), a developer of novel, non-invasive tests to support the early detection of cancer, announced today that data from the Company’s latest confirmatory lung cancer diagnostic research have been accepted for a slide presentation at the American College of Chest Physician’s CHEST 2017 annual meeting. The meeting will be held in Toronto, Ontario, Canada, from October 28 to November 1, 2017.  

The presentation will be given by Dr. Anil Vachani, an Associate Professor of Medicine at the Hospital of the University of Pennsylvania and the Philadelphia Veteran's Administration Medical Center.   

“OncoCyte’s clinical trials continue to suggest that their diagnostic could result in a significant advancement in the management of patients with suspected lung cancer,” said Dr. Vachani. “This test has the potential to considerably reduce the number of invasive and costly lung biopsies, which will better meet the needs of patients and clinicians.”

OncoCyte recently announced successful completion of the Analytical Validation Study of its liquid biopsy lung cancer diagnostic test and initiation of the Clinical Validation Stage, which is the final stage before commercial launch. Successful completion of the Clinical Validation studies will position OncoCyte to be the only company to market a non-invasive liquid biopsy confirmatory lung cancer diagnostic test. OncoCyte estimates that a $4.7 billion annual market could develop in the U.S. for confirmatory lung cancer liquid biopsy tests, depending on market penetration and reimbursable pricing. OncoCyte is currently building its commercial infrastructure for its planned launch of the lung cancer diagnostic test.

“CHEST’s acceptance of the latest data for a slide presentation confirms the importance of our non-invasive diagnostic test for the early detection of lung cancer, which is a notable achievement for OncoCyte,” commented William Annett, Chief Executive Officer. “An effective blood-based test to support the early stage diagnosis of lung cancer could significantly reduce hospitalizations due to avoidable biopsies. We look forward to receiving CLIA certification, successfully completing the Clinical Validation Study and launching the test this year.”

About OncoCyte Corporation

OncoCyte is focused on the development and commercialization of novel, non-invasive blood and urine (“liquid biopsy”) diagnostic tests for the early detection of cancer to improve health outcomes through earlier diagnoses, to reduce the cost of care through the avoidance of more costly diagnostic procedures, including invasive biopsy and cystoscopic procedures, and to improve the quality of life for cancer patients. While current biopsy tests use invasive surgical procedures to provide tissue samples in order to determine if a tumor is benign or malignant, OncoCyte is developing a next generation of diagnostic tests that will be based on liquid biopsies using blood or urine samples. OncoCyte’s pipeline products are intended to be confirmatory diagnostics for detecting lung, breast and bladder cancer. OncoCyte’s diagnostic tests are being developed using proprietary sets of genetic and protein markers that differentially express in specific types of cancer.

OncoCyte Forward Looking Statements

Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) are forward-looking statements. These statements include those pertaining to the implementation and results of our future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for OncoCyte, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential diagnostic tests or products, uncertainty in the results of clinical trials or regulatory approvals, the need and ability to obtain future capital, and maintenance of intellectual property rights, and the need to obtain third party reimbursement for patient’s use of any diagnostic tests we commercialize. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of OncoCyte, particularly those mentioned in the “Risk Factors” and other cautionary statements found in OncoCyte’s Securities and Exchange Commission filings. OncoCyte disclaims any intent or obligation to update these forward-looking statements, except as required by law.

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