Reimbursement of lung cancer test in USA

Proteome Sciences plc

Reimbursement of lung cancer test in USA

2nd June, 2010 The Board of Proteome Sciences plc (Proteome Sciences) was pleased to see that Oncimmune Inc. has obtained reimbursement under Medicare for its lung cancer test in the USA and expect the test to also be covered by private health insurers. Oncimmune took a non-exclusive license to Proteome Sciences annexin biomarkers for early detection of lung cancer in 2009 for their EarlyCDT-Lung test in blood.

This should make a substantial difference to the sales and the market size of the blood test launched last year in the USA, which is now being offered nationwide at a price of $475. This reflects that the test has been accepted by healthcare providers as playing an important role in patient management. Proteome Sciences receives a royalty payment on all tests sold.

The test has been described as a simple blood test that can detect a cancer before a tumour has taken shape. Due to be launched in Britain by early next year, it is described as offering a "paradigm shift" in cancer diagnostics. The test is the first to identify accurately the signals sent out by a person's immune system as a cancer germinates. Research suggests that such signals can be detected up to five years before a tumour is seen, priming doctors to intervene at the earliest time when a solid cancer appears.

Lung cancer is the leading cause of cancer death, mainly because of late diagnosis. In about 90 per cent of lung cancer cases globally, the sufferer will die within five years of diagnosis and so a blood test that can detect cancer before the tumour has taken shape is therefore of enormous potential significance. With detection taking place early at Stage 1/2, the five-year survival rate increases between three and five fold. The importance that sufferers are aware that a blood test for lung cancer is available becomes apparent from the comments of an MD in Kansas, USA who stated that 95% of the patients he discussed the test with wanted to have the simple blood test. This provides smokers/former smokers for the first time with the opportunity for early detection of this debilitating disease.

The lung cancer test, based on research that has involved more than 8,000 individuals in the UK and USA, is creating considerable global media activity ahead of a series of presentations due to be made next week at the American Society of Clinical Oncology meeting in Chicago, USA.

Proteome Sciences anticipates that multiple biomarker licenses will also be signed with major diagnostics companies in lung cancer.

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For further information please contact:

Proteome Sciences plc

www.proteomics.com Tel: +44 (0)1932 865065

Christopher Pearce, Chief Executive Officer christopher.pearce@proteomics.com 

James Malthouse, Finance Director james.malthouse@proteomics.com 

Dr. Ian Pike, Chief Operating Officer ian.pike@proteomics.com 

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Singer Capital Markets Limited

Shaun Dobson/Claes Spång

Tel: +44 (0)20 3205 7500

Public Relations

IKON Associates Redleaf Communications Limited

Adrian Shaw Anna Dunkin/Lucy Salaman

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Email: adrian@ikonassociates.com