Cancer and heart disease claim more lives every year than the rest of the top 10 leading causes of death in the U.S. combined. Billions of dollars are spent each year trying to discover preventative measures as well as cures.Neoprobe Corporation (OTCBB: NEOP) is a diversified developer innovating oncology, cardiovascular surgical and diagnostic products. The company’s main focus is the improvement of cancer surgery outcomes. Helping enhance patient needs by meeting the critical decision making needs of health care professionals has been Neoprobes mission since its establishment in 1984.
Neoprobe has several different devices that help assist in the care of patients and discovering the effects post surgery. The company provides several gamma detection devices and blood flow measurement products.
Gamma detection devices are used in cancer surgery to help evaluate the potential spread of cancer to lymph node tissues and organs. This morning the company announced it has signed a term sheet with Cardinal Health for the marketing and distribution of Lymphoseek on an exclusive basis in the United States through Cardinal Health’s network of over 150 nuclear pharmacies.
Lymphoseek is a proprietary, radioactive lymphatic mapping targeting agent being developed by Neoprobe for use with handheld gamma detection devices in a procedure known as Sentinel Lymph Node Biopsy.
Neoprobe’s CEO, David Bupp, said in a press release “We are very pleased to have the opportunity to establish business terms for the marketing and distribution of Lymphoseek in the United States. The completion of this agreement, coupled with our recent announcement of preliminary results for the Phase 2 clinical evaluation of Lymphoseek, will be an important milestone event for the company.”
Neoprobe’s stock price has increased almost 4 cents today, or 13 percent, to about 32 cents. The stock has increased 8 cents already this week as the company has approached a new high over the last month. This new partnership might spark more growth and help Neoprobe increase not only in size but value.