ITUS Corp (NASDAQ: ITUS) shares rose Tuesday after the company disclosed that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for its cancer detection technology.
The San Jose-based ITUS, a company using the power of the immune system to diagnose and treat cancer, is developing a platform called Cchek™ from which it expects to launch a series of non-invasive, inexpensive diagnostic blood tests for early cancer detection.
ITUS CEO Amit Kumar said "This is the second patent of our intellectual property estate protecting our proprietary early cancer detection technology. Our Cchek™ technology utilizes flow cytometry analysis of circulating white blood cells and Artificial Intelligence (Neural Network) to enable us to identify tumor bearing patients.
“Unlike other technologies that seek to identify DNA shed by tumors, or the tumor cells themselves that might be circulating in blood, or other markers coming directly from the tumor, our technology monitors subtle changes undergone by the host immune system in a tumor bearing person.
"We have already shown that these subtle changes are seen in 15 tumor types, and we feel that this methodology will work for all tumor types."
ITUS claims to be “harnessing the body's immune system in the fight against cancer. Its wholly owned subsidiary, Anixa Diagnostics Corporation, is developing the CchekTM platform, a series of non-invasive blood tests for the early detection of solid tumor based cancers, which is based on the body's immunological response to the presence of a malignancy.”
The shares cleared breakeven by two cents, Tuesday noon ET, to $2.70.
