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September 27, 2012
07:30 EDTAPPYAspenBio Pharma plans to initiate pivotal study in Q4 following FDA meeting
AspenBio Pharma provided its shareholders and the broader investment community with an update on its clinical and business activities. The Company announced that it plans to initiate a pivotal study in the fourth quarter of 2012 for its blood-based appendicitis test designed to assist emergency room clinicians in ruling out acute appendicitis. The Company is moving ahead with its plans following its recent productive meeting with the U.S. Food and Drug Administration. In addition to seeking approval in the U.S., the Company plans to obtain CE Mark before the end of the year and to introduce the product in Europe shortly thereafter. In addition to the Company's clinical advancements, AspenBio announced that progress continues for its out-licensed animal health assets. To date, cumulative consideration achieved under the exclusive license agreement is approximately $1.3M, including license fees and milestone payments.
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