MetaStat Announces Successful Analytical Validation of its MetaSite Breast™ Cancer Diagnostic

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Positive Results Help Solidify Company’s Pathway to Commercializing
the Next Generation of Prognostic Tests for Breast Cancer

BOSTON–(BUSINESS WIRE)–MetaStat, Inc. (OTCQB:MTST), a molecular diagnostic company, today
announced the successful completion of an analytical validation study of
its MetaSite Breast™ clinical test, which demonstrated analytical
precision greater than 97%. MetaSite Breast™ is a next generation
driver-based prognostic test to predict the risk of developing
metastatic disease in patients with ER+ invasive breast cancer. This
information allows physicians to optimize treatment decisions and
improve patient outcomes.

“The successful completion of this study is an essential step in the
process for Massachusetts state and CLIA laboratory certification,”
stated Olga Pozdnyakova, MD, PhD, Laboratory Director at MetaStat.

In this study, MetaStat assessed the analytical precision and accuracy
of the fully-automated clinical MetaSite Breast™ test using FFPE
tissue samples from patients with invasive breast cancer. The results
were compared to the gold standard method originally developed at the
Albert Einstein School of Medicine shown to predict metastatic disease
in ER+ breast cancer patients (Rohan et al. JNCI 2014). MetaSite Breast
was shown to have analytical precision of greater than 97% with a mean
percent coefficient of variation (%CV) of 6.6% (n=35). Importantly,
MetaSite Breast™ showed a high degree of accuracy with the
reference standard by ROC analysis with AUCs (area-under-the-curve) of
0.84 and 0.90 for low and high risk cut-points, respectively.

Driven by bioscience innovation, the treatment of cancer is undergoing a
significant evolution toward treating patients based on specific drivers
of their disease. MetaSite Breast™ was found to be highly
reproducible, with a level of performance and precision required for the
exacting standards of clinical practice. “Successful completion of the
MetaSite Breast™ analytical validation study marks a significant
risk-reduction milestone for MetaStat,” stated Douglas A. Hamilton,
President and Chief Executive Officer of MetaStat, “With the automated
commercial process now analytically validated, we can move forward to
generate additional evidence from clinical validation and utility
studies in support of our anticipated product launch in 2016.”

About MetaStat, Inc.

MetaStat, Inc. (MTST) is a molecular diagnostic company that develops
and commercializes diagnostic tests for early and reliable prediction of
systemic 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, prostate, lung and colorectal cancers, where systemic
metastasis is responsible for approximately 90% of all deaths. The
company’s function-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 their individual risk of metastasis and to
provide physicians with clinically actionable information to better
“customize” cancer treatment. MetaStat’s testing platform improves
treatment planning decisions by positively identifying patients with a
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.

Contacts

Investors:
MetaStat, Inc.
Rick Pierce, 617-531-0874
Rpierce@metastat.com