Radient Pharmaceuticals Corporation is an integrated pharmaceutical company. The Company focuses on the research, development, manufacturing, and marketing of diagnostic and premium skin-care products. Radient Pharmaceuticals Corporation has their headquarters in Tustin, California and they trade on the NYSE Amex.
The Company’s core business strategy and market focus is on the international commercialization of Onko-Sure™ and Elleuxe products. Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved in vitro test for use as an aid in early detection of cancer. It enables physicians and their patients to effectively monitor and/or detect certain types of cancers. This is through measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP levels rise significantly with the progression of cancer. Onko-Sure has approval by the US FDA for the monitoring of colorectal cancer and by Health Canada as a lung cancer screen and cancer-monitoring tool.
The Company’s Elleuxe is a therapeutic, high-end skin-care product line based on the active ingredient ‘Elleuxe Protein.’ This is the Company’s proprietary active ingredient. It offers cell-renewing properties designed to minimize the appearance of aging. The initial Elleuxe product line includes Hydrating Firming Cream, Renergie Hydrating Cleanser, Intense Hydrating Cleanser, Visable Renewing Hydrating Softener, and Smoothing Renewing Eye Moisturizer.
Yesterday, Radient Pharmaceuticals announced that they anticipate prospective purchasers or financiers will complete due diligence for their China-based subsidiary Jade Pharmaceutical, Inc. by the end of May 2010. Radient expects Jade Pharmaceutical will be contractually positioned to move forward with the completion of a sale or financing by the end of the third quarter 2010. Radient Pharmaceuticals Corporation currently owns approximately 98 percent of Jade Pharmaceutical. As part of Radient’s deconsolidation process, Jade Pharmaceutical has notation as a special asset on Radient’s balance sheet and has a value of approximately US$20 million as of September 30, 2009.
Today, Radient Pharmaceuticals Corporation, through their US-based subsidiary AMDL Diagnostics Inc., announced that they are continuing to grow their partnership with GenWay Biotech Inc. They have signed an exclusive 5-year marketing, sales and distribution agreement with the company for the commercialization of Radient Pharmaceuticals’ Onko-Sure™ in vitro diagnostic cancer (IVD) test in Greece.
GenWay Biotech is responsible for marketing and product sales in this new market. Radient Pharmaceuticals signed a similar agreement with GenWay Biotech earlier this year. The agreement gave GenWay Biotech the exclusive rights to market, sell and distribute Onko-Sure in seven other international markets.
Last week, Radient extended their partnership with GenWay Biotech Inc., signing an exclusive 5-year marketing, sales and distribution agreement with GenWay Biotech Inc. for the commercialization of RPC’s Onko-Sure™ in vitro diagnostic cancer (IVD) test in Russia and the former Soviet Republics.