ORLANDO, Fla., April 16, 2015 /PRNewswire/ -- MEDITE Cancer
Diagnostics, Inc. (OTCQB: MDIT), specializing in the development,
manufacturing and marketing of superior molecular biomarkers and
premium medical devices and consumables for detection, risk
assessment and diagnosis of cancer and related diseases announces a
delay in the filing of the Form - 10k with the Securities and
Exchange Commission.
During 2014, CytoCore Inc.'s acquisition of MEDITE Enterprise,
Inc. with its subsidiaries in Germany, USA,
Austria and Poland has resulted in significant
developments and changes to the company. Along with the name change
from CytoCore Inc. to MEDITE Cancer Diagnostics, Inc., a reverse
stock split, roll out of new products with new distributors around
the world, the company continues development and testing of
proprietary biomarkers and stains for the detection of cancerous
and pre cancer conditions. The company believes one significant use
of the biomarkers amongst many is to develop an improved test for
cervical cancer screenings that may eliminate the need for routine
HPV testing. As a result of consolidating both companies, MEDITE is
required to obtain an independent valuation of CytoCore's in
process Research and Development as a component for allocation of
the purchase price to this intangible asset at the time of the
acquisition.
The Management believes the independent valuation related to in
process Research and Development should be completed imminently
which will allow for filing of the SEC Form 10-k for 2014.
2014 was a transitional and very important year for the company
with changes, challenges and many achievements. By acquiring MEDITE
the company transitioned from solely research operations to an
operating company with 76 employees in four countries, a
distribution network to about 70 countries worldwide, a well-known
and established brand name, a wide range of selling products and
the established infrastructure necessary for a company acting in
the medical industry. Both company structures and cultures were
successfully merged to one new company organization.
About MEDITE Cancer Diagnostics, Inc.
The Holding
MEDITE Cancer Diagnostics Inc., a Delaware registered company consisting of
wholly-own MEDITE GmbH a Germany-based Company with its subsidiaries
CytoGlobe GmbH (Cytology Products, Germany), MEDITE GmbH (Distributor,
Austria), MEDITE Inc.
(Distributor, Americas). Since 1978, MEDITE has specialized on the
development, manufacture and distribution of medical laboratory
automation equipment and supplies for pathology, histology and
cytology. For these fields, the company offers a complete range of
devices and consumables. MEDITE currently has 76 employees and
sells into about 70 countries. On April 3,
2014, MEDITE was purchased by CytoCore, Inc. a bimolecular
diagnostics company engaged in the design, development, and
commercialization of cost-effective cancer screening systems and
Biomarkers to assist in the early detection of cancer. The name of
the company changed from CytoCore, Inc. to MEDITE Cancer
Diagnostics, Inc. in early December
2014.
For more information please visit: www.medite-group.com
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SOURCE MEDITE Cancer Diagnostics, Inc.
