Company News

MetaStat Receives Massachusetts State Clinical Laboratory License

Download PDF

Company Achieves Significant Commercial Milestone Towards Attaining CLIA certification

BOSTON-- MetaStat, Inc. (OTCQB:MTST), a molecular diagnostic company, today announced it successfully passed its Massachusetts laboratory inspection and has received a Massachusetts state license for its digital pathology laboratory in Boston, Massachusetts.

“Receiving the Massachusetts state license for our digital pathology laboratory is an important step for MetaStat,” said Douglas A. Hamilton, President and Chief Executive Officer of Metastat. “Working alongside the experts at South Shore Consultants, MetaStat has developed quality systems and procedures to ensure our next generation diagnostic products meet and exceed the rigorous standards of clinical practice as required by our customers.”

MetaStat can begin to process physician orders and run tissue samples from most U.S. states, the final major step in achieving certification from the U.S. Department of Health and Human Services’ Centers for Medicare and Medicaid Services (CMS) under the Clinical Laboratory Improvement Amendments (CLIA) of 1988 for its digital pathology laboratory in Boston, Massachusetts.

About South Shore Laboratory Consultants, Inc.

South Shore Laboratory Consultants, Inc., located in Scituate, MA assisted MetaStat, Inc. with the start-up and state licensure of their clinical laboratory. Since 1988, South Shore Laboratory Consultants has provided clinical laboratory consulting services to laboratories seeking CLIA or CAP certification, MA and other state licensures. They have the expertise to facilitate all needs from initial laboratory start-up through complete licensure, while ensuring continuous maintenance of your regulatory and quality systems.

About MetaStat, Inc.

MetaStat, Inc. (MTST) is a molecular diagnostic company that develops and commercializes tissue-based diagnostic tests for prediction of cancer metastasis, the process by which cancer spreads from a primary tumor through the bloodstream to other areas of the body. MetaStat is focused on breast, lung, colorectal and prostate cancers, where aggressive cancer is responsible for approximately 90% of all deaths. The company's driver-based diagnostic platform technology is based on the identification and understanding of the pivotal role of the Mena protein and its isoforms, a common pathway for the development of systemic metastatic disease in all epithelial-based solid tumors. Both the MetaSite Breast™ and MenaCalc™ assays are designed to accurately stratify patients based on the aggressiveness of their tumor and risk the cancer will spread. MetaStat's testing platform improves treatment planning decisions by positively identifying patients at high-risk of metastasis who need aggressive therapy and by sparing patients with a low-risk of metastasis from the harmful side effects and expense of chemotherapy. The company is based in Boston, MA.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the company's Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update such statements.

Rick Pierce, 617-531-0874

Source: MetaStat, Inc.