Toronto, Ontario--(Newsfile Corp. - April 13, 2023) - Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the "Company" or "Telo") is excited to announce that the abstract submitted to the American Society of Clinical Oncology (ASCO) 2023 annual meeting was accepted for presentation and will be published in the official proceedings of the meeting. The results summarized in the abstract are under embargo according to ASCO rules and regulations until the abstract is published online on May 25, 2023.
Acceptance and presentation of this data represents an important milestone for Telo, as the results summarize the completion of two important stages in Telo's collaboration with the Mayo Clinic. The Company had previously announced that it had met the set endpoints of these clinical study stages, which are critical to the validation of its lead product, TeloViewSMM.
Telo's lead product is designed to identify high-risk SMM patients who are likely to benefit from earlier treatment intervention. Of greater importance, the test also identifies the larger subset of low-risk SMM patients who have a more stable form of the disease and do not require immediate treatment. These patients can be regularly monitored using Telo's test - In fact, stable SMM patients may be tested up to every three months on an ongoing basis. There are over 200,000 SMM patients in the USA that may benefit from TeloViewSMM, with a potential total addressable market of over 500,000 tests per year.
"We are thrilled about the acceptance of our SMM abstract for presentation and publication at ASCO 2023," said Kris Weinberg, Telo's CEO. "The acceptance of the SMM abstract highlights critical progress of our commercialization and product launch program and brings us closer to offering the TeloView test for SMM as a validated test in the clinic."
About ASCO
The American Society of Clinical Oncology, Inc. and the Association for Clinical Oncology are committed to the principle that knowledge conquers cancer and represent nearly 45,000 oncology professionals who care for people living with cancer. Through research, education, and promotion of high quality, equitable patient care, ASCO works to conquer cancer and create a world where cancer is prevented or cured, and every survivor is healthy. The ASCO annual meeting is considered one of the top clinical international meetings focused on clinical management of cancers and attracts more than 35,000 attendees every year.
About Multiple Myeloma
Multiple myeloma is a challenging and potentially deadly blood cancer that involves plasma cells, a type of blood cell that helps to fight infection. It is the second most common blood cancer with an incidence of 35,000 new cases every year in the US, and ~180,000 patients receiving treatment at any given time. The introduction of next-generation therapies (including targeted treatments) has increased the median survival rate to over 5 years, but MM is still considered incurable. Two asymptomatic precursors, Monoclonal Gammopathy of Unknown Significance ("MGUS") and SMM generally precede the progression to classic symptomatic MM. While MGUS carries a steady risk of progression of 1% per year, SMM is more heterogenous with nearly 40% of patients progressing in the first 5 years, 15% in the next 5 years, reaching the same low risk as MGUS after 10 years. To date, identifying patients who will more rapidly progress to MM remains an important clinical need. MM treatment includes various combinations of drugs with a cost as high as $150,000 per year per patient. As most patients will develop resistance to treatment and relapse within a median of 2 years, identifying them proactively remains another important clinical need. Notably, the total addressable market for both MM assays is over 750,000 tests per year in the US.
About TELO
Telo Genomics Corp. is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and predictive/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, TeloView-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.
For further information, please contact:
Kris Weinberg, CEO
678-429-5582
kris.weinberg@telodx.com
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto, ON, M5G 1L7
www.telodx.com
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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