EXHIBIT 99(a)
IMMEDIATE RELEASE FEBRUARY 24, 2004
CONTACTS:
BRENT LARSON JONATHAN FASSBERG,
VICE PRESIDENT CFO THE TROUT GROUP
614 793 7500 212 477 9007
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NEOPROBE ANNOUNCES FDA MEETING TO DISCUSS RIGS(R) DEVELOPMENT
MEETING TO DISCUSS POTENTIAL CLINICAL SUBMISSION UNDER BLA
DUBLIN, OHIO - February 24, 2004 -- Neoprobe Corporation (OTCBB: NEOP), a
diversified developer of innovative oncology and cardiovascular surgical and
diagnostic products today announced that its has scheduled a meeting with the
United States Food and Drug Administration (FDA) on April 15, 2004 to discuss
the potential submission of additional clinical information to respond to
questions raised by the FDA related to the Company's Biologic License
Application (BLA) for RIGScan CR49. The meeting with the FDA will be to review
the procedures to complete further analysis of clinical information and the
procedures for the prospective submission of the analysis to respond to the
FDA's questions concerning the patient benefit of the use of RIGScan CR49.
"We have become aware of information from independent follow-up to some of the
clinical studies performed in support of our original BLA," said David Bupp,
Neoprobe's President and CEO. "The information seems to suggest a potential for
a survival differential for patients whose colorectal cancer was evaluated with
RIGScan CR49. The meeting has been scheduled to review some of this information
with the FDA, to determine the appropriate next steps for the development of the
product and to outline a possible development timeline. We will provide
information after the April meeting as is appropriate in cooperation with the
FDA in order to reactivate the currently stalled development plan for RIGScan
CR49", concluded Bupp.
ABOUT NEOPROBE
Neoprobe develops and provides innovative surgical and diagnostic products that
enhance patient care by meeting the critical decision making needs of healthcare
professionals. Neoprobe's current line of gamma detection systems is widely used
for intraoperative lymphatic mapping (ILM), an emerging standard of care
technology for breast cancer and melanoma. Neoprobe also holds significant
interests in the development of related biomedical systems and agents. The
Company's strategy is to deliver superior growth and shareholder return by
maximizing its strong position in gamma detection technologies and diversifying
into new, synergistic biomedical markets through continued investment and
selective acquisitions. With the acquisition of Cardiosonix Ltd. in 2001,
Neoprobe expanded its product portfolio to include blood flow measurement
products. Cardiosonix is an early stage company that has recently received
regulatory clearance to begin the clinical evaluation and commercial sale of its
blood flow measurement products. Cardiosonix' products (the Quantix/NDTM and the
Quantix/ORTM) are designed to be used by neurosurgeons, cardiovascular surgeons
and critical care physicians.
Statements in this news release, which relate to other than strictly historical
facts, such as statements about the Company's plans and strategies, expectations
for future financial performance, new and existing products and technologies,
and markets for the Company's products, are forward-looking statements. The
words "believe," "expect," "anticipate," "estimate," "project," and similar
expressions identify forward-looking statements that speak only as of the date
hereof. Investors are cautioned that such statements involve risks and
uncertainties that could cause actual results to differ materially from
historical or anticipated results due to many factors including, but not limited
to, the Company's continuing operating losses, uncertainty of market acceptance,
reliance on third party manufacturers, accumulated deficit, future capital
needs, uncertainty of capital funding, dependence on limited product line and
distribution channels, competition, limited marketing and manufacturing
experience, and other risks detailed in the Company's most recent Annual Report
on Form 10-KSB and other Securities and Exchange Commission filings. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements.