TrovaGene Inc (NASDAQ:TROV), a developer of cell-free molecular diagnostics, announced today the establishment of Trovagene Research Institute (TRI), a European subsidiary focused on expanding the capabilities and adoption of the Company’s Precision Cancer Monitoring℠ (PCM) platform. Alberto Bardelli, Ph.D., an internationally recognized leader in cell-free DNA cancer research, will be the Scientific Chair of TRI. Dr. Bardelli, currently affiliated with the Department of Oncology, Torino Medical School and the Candiolo Cancer Institute in Italy, was among the first to identify mutations in the kinase genes associated with colorectal cancer and other malignancies while at Johns Hopkins University. He has authored or co-authored over 140 published papers, including his team’s most recent widely acclaimed publication in Nature Medicine1, entitled Clonal evolution and resistance to EGFR blockade in the blood of colorectal cancer patients.
“Trovagene’s vision for the broad applications of its liquid biopsy platform in the treatment of cancer patients and the Company’s commitment to innovative cell-free DNA technologies were key factors in my decision to be involved in the Trovagene Research Institute after serving on the Company’s Scientific Advisory Board for the past year,” said Dr. Bardelli. “The use of a non-invasive urine sample to monitor circulating tumor DNA has the potential to fundamentally change the practice of medicine, and I am looking forward to integrating the work we have done with Trovagene’s platform to improve the outcomes of cancer patients.”
Concurrent with the establishment of TRI, the Company has entered into a collaboration with the Department of Oncology at the University of Torino, a leading research center in Southern Europe. This collaboration seeks to leverage the superior benefits of urine as a specimen for the detection and monitoring of oncogenic mutations, along with the capabilities and relationships of the University and Dr. Bardelli’s team. Professor Giorgio Scagliotti, Director of the Department of Oncology at the University of Torino was recognized this week as the new president of the International Association for the Study of Lung Cancer (IASLC) at the World Lung Cancer Conference in Denver, CO.
“The University is looking forward to working with TRI to make Trovagene’s novel liquid biopsy platform available to clinicians and patients in Europe,” stated Dr. Scaglotti. Accessing longitudinal information about driver mutations in cell-free DNA has become a reality, and Trovagene’s platform combines convenience and ease of use with potential best-in-class molecular monitoring performance. “The University of Torino is focused on leading edge research and translational science, and we are excited to be the first in Europe to offer Trovagene’s PCM platform in clinical settings.”
“We are thrilled to enter into this relationship with Dr. Bardelli and the University of Torino,” added Antonius Schuh, Ph.D., CEO of Trovagene. “Bringing Alberto and his scientific team on board is a major milestone for the Company as we seek to expand our liquid biopsy portfolio and our reach into research, clinical and pharmaceutical customer channels.”
Alberto Bardelli, Ph.D. is a pioneering scientist in the field of cancer genomics and the modeling of cancer using isogenic cell-lines. He developed a generation of isogenic cell-lines harboring subtle kinase mutations designed to accurately predict responses to targeted agents in humans. Based on this research, Dr. Bardelli co-founded Horizon Discovery Group, plc, one of the fastest growing biotechnology companies in Europe. In 2014, Dr. Bardelli was nominated by Thomson Reuters to join the list of the world’s most influential scientific minds. He currently serves as an associate professor at the Department of Oncology at the University of Torino as well as Director, Laboratory of Molecular Oncology at the Candiolo Cancer Institute. Since 2004, Dr. Bardelli has directed a research group focused on the identification of mutations in oncogenes that may represent valid therapeutic targets for human cancers and the development of targeted therapies. A cum laude graduate of the University of Torino with an undergraduate degree in biological sciences, Dr. Bardelli earned his Ph.D. in biochemistry and molecular biology from University College London. He served as a postdoctoral fellow at Johns Hopkins University School of Medicine and the Howard Hughes Medical Institute from 1999 – 2004 where he received the prestigious Alfred Blalock Research Award in 2004. (Original Source)
Shares of TrovaGene closed yesterday at $6.34. TROV has a 1-year high of $13.58 and a 1-year low of $4. The stock’s 50-day moving average is $6.72 and its 200-day moving average is $8.36.
On the ratings front, TrovaGene has been the subject of a number of recent research reports. In a report issued on August 14, Leerink Swann analyst Dan Leonard initiated coverage with a Buy rating on TROV and a price target of $9, which represents a potential upside of 42.0% from where the stock is currently trading. Separately, on July 8, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $13.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dan Leonard and Jason Kolbert have a total average return of 6.9% and -10.3% respectively. Leonard has a success rate of 50.0% and is ranked #1075 out of 3752 analysts, while Kolbert has a success rate of 32.2% and is ranked #3737.
TrovaGene Inc is a development stage molecular diagnostic company. It focuses on the development and marketing of urine-based nucleic acid tests for patient/disease screening and monitoring.