Biotech Stock News: Telo Genomics (TSXV: TELO) Launches Clinical Study of Drug Resistance Test for Multiple Myeloma
Toronto, Ontario - July 13, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the "Company" or "TELO") is pleased to announce that it has commenced the processing of clinical samples to evaluate its TeloView platform to identify multiple myeloma ("MM") patients that are at high-risk of developing treatment resistance. This study is the second study being carried out in collaboration with the Mayo Clinic to evaluate the Company's prognostic technology to address multiple unmet clinical needs in MM.
MM is a highly challenging and deadly blood cancer that forms in plasma cells, a type of white blood cell. Symptoms include bone pain, frequent infections, fatigue, and weight loss. There are currently several combinations of drugs in clinical use for the treatment of MM and most patients initially respond to treatment and enter remission. However, disease remission is typically followed by treatment resistance and relapse, this can occur from as early as 3 months from initiation of treatment until 24 months. Identifying patients who will develop drug resistance prior to relapse is a critical unmet need in the management of MM. Addressing this unmet need will allow healthcare providers to identify patients at high-risk of drug resistance and modify their treatment regimens accordingly.
The identification of patients at high-risk of treatment resistance presents the potential for regular and continuous patient monitoring and consequently, dynamic real-time treatment modification. The incidence rate of MM in the USA is approximately 35,000 cases per year with an estimated potential total addressable market of over 250,000 tests per year.
In 2020, TELO entered into a collaboration agreement with the Mayo Clinic to conduct clinical studies targeting the development of two clinical prognostic tests for MM. On July 6, 2022, TELO announced the completion of the processing of clinical samples related to its lead product in development for smouldering multiple myeloma (SMM) and is in the process of data review and analysis. For further clarification, the clinical study being launched for drug resistance, the subject of this press release, is the second prognostic test in development in collaboration with the Mayo Clinic.
"We are excited to launch this drug resistance study for multiple myeloma patients in collaboration with the Mayo Clinic," said Sherif Louis, TELO's CEO. "The development of this test, in addition to TELO's lead product for SMM, has the potential to position our TeloView platform as a powerful prognostic tool to address multiple unmet clinical needs for the management of multiple myeloma."
Telo Genomics Corp. is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease associated genetic instability, TELO is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in 160+ peer reviewed publications and in 30+ clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, TELO-MM is being developed to provide important, actionable information to medical professionals in the treatment of multiple myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
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Cautionary Note Regarding Forward-Looking Statements
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends", "will", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the clinical efficacy of products, commercial viability of products, use of proceeds, and the ability of the TeloView® platform to deliver personalized medicine resulting in better treatments and outcomes are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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