OVIT OncoVista Innovative Therapies Inc (CE)

AdnaGen AG, a subsidiary of OncoVista Innovative Therapies, Inc. (OTCBB: OVIT), a high-growth global biotech company developing proprietary, leading-edge early detection and drug technologies to enable safe, targeted personal cancer treatments, today announced that it has entered into an option agreement to license specific antibodies to KellBenx Inc., a New York-based private biotech firm.

KellBenx focuses on the development of non-invasive prenatal diagnosis (NIPDXTM) for specific genetic and other heritable disorders.

“Our agreement with AdnaGen is exciting because for the first time we have an antibody specific enough to detect fetal cells in maternal blood to allow noninvasive prenatal testing,” said Hassan Bennani, M.D., Chief Executive Officer of KellBenx. “This is a major step towards meeting the demand by pregnant women and their physicians for safer testing for Down syndrome and other genetic disorders. The risks of amniocentesis to the developing fetus are well-known, and our ability to test maternal blood instead of amniotic fluid for the critical genetic markers has the potential to save thousands of pregnancies when we bring the test to market.”

Under the license, KellBenx will secure exclusive worldwide rights to commercialize the antibodies, which enable the extraction of clinically relevant information from maternal blood through a test that could be widely available as early as 2011.

Fetal Nucleated Red Blood Cells (“FNRBC’s”), which have been identified in maternal blood, can be a source for monitoring and diagnosis of maternal, fetal, and neonatal health and disease. The KellBenx process involves the enrichment of FNRBC’s with the antibodies licensed from AdnaGen, namely Monoclonal Antibodies with Specificity for Fetal Erythroid Cells, to perform chromosomal or genetic analysis to identify markers of potential disorders.

“AdnaGen’s ability to assist KellBenx’s proprietary non-invasive prenatal diagnosis detection and diagnostic products further validates our technologies as well as the broad range of our therapeutic applications,” said Alexander L. Weis, Ph.D., Chief Executive Officer of AdnaGen AG. “While addressing critical medical need significantly assists physicians and the medical system, in the final analysis, it is the patient that derives the greatest benefit. Dr. Bennani and his team share that vision.”

OncoVista is a biopharmaceutical technology company commercializing diagnostic tests for metastatic tumors, as well as developing targeted anticancer therapies by utilizing tumor-associated biomarkers. OncoVista has developed diagnostic kits for breast, colon, ovarian, and prostate cancers, and currently markets diagnostic kits in Europe for the detection of circulating tumor cells (“CTC’s”) in patients with breast, colon and prostate cancer. OncoVista believes that it is well positioned to leverage its ownership of AdnaGen to realize revenues from sales of its CE-marked diagnostic kits in Europe, while utilizing its proprietary diagnostic technologies to guide and expedite our anticancer drug development efforts.

About OncoVista:

Texas-based OncoVista Innovative Therapies, Inc. (OTCBB: OVIT) is a high-growth theragnostic (the fusion of therapeutic and diagnostic medicine for individual patients) company that identifies specific biomarkers in the bloodstream carried by CTC’s to detect metastatic tumors. This allows an oncologist the unique ability to develop personalized, efficacious cancer treatments.

While oncologists typically require several months before visually evaluating a tumor’s growth or shrinkage, OncoVista’s proprietary product, AdnaGen Diagnostics, detects meaningful fluctuations in the biomarkers expressed by CTC’s in just weeks. This revolutionary approach to evaluating cancer therapeutic efficacy can dramatically improve a patient’s chance of survival. OncoVista owns 78% of German-based AdnaGen AG, a world leader in diagnostic technology. AdnaGen’s patented detection products are currently deployed across ten countries in Europe with United States marketing approval expected by 2012.

OncoVista also produces innovative drug discovery, registration strategies and emerging technologies allowing it to bring to market less toxic and highly effective anti-cancer drugs.

For additional information, please visit OncoVista’s corporate website: www.oncovista.com.

About KellBenx

Founded in 2010, KellBenx, Inc. is a privately held biotechnology company based in New York City. KellBenx is developing high value, innovative tests that leverage the ability to extract clinically relevant information from blood. Our focus is the development of non-invasive prenatal diagnosis (NIPDXTM) for specific genetic and other heritable disorders.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as OncoVista or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

OncoVista Innovative The... (CE) (USOTC:OVIT)
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OncoVista Innovative The... (CE) (USOTC:OVIT)
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