EANS-News: Epigenomics and Predictive Biosciences Extend Licensing Deal for Prostate Cancer Test
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Licensing Agreements/Company Information/Molecular diagnostics
BERLIN, PHILADELPHIA, PA and LEXINGTON, MA, November 16, 2010 (euro adhoc) - Epigenomics AG (Frankfurt Prime Standard: ECX), the cancer diagnostics company, and Predictive Biosciences, a commercial stage, fully-integrated developer of novel molecular diagnostic cancer assays and a provider of anatomic pathology laboratory products and services, today announced that they have extended their licensing agreement for the prostate cancer biomarker GSTP1, originally signed in April 2009. Under the terms of the original agreement, Predictive Biosciences had obtained rights to develop a prostate cancer test incorporating this well known DNA methylation biomarker and an option to license GSTP1 for commercialization of this test as a laboratory service in the United States. Based on strong continued progress in developing the test, Predictive Biosciences has now executed this option, triggering an undisclosed one-time license fee to Epigenomics. Epigenomics will also be entitled to royalties on future sales generated with Predictive Biosciences' prostate cancer test, which is still in development.
"Prostate cancer diagnosis suffers from poor specificity of PSA screening," said Geert Nygaard, CEO of Epigenomics. "We are therefore delighted that Predictive Biosciences will be using our biomarker to develop a test to improve the diagnostic follow-up of patients with high PSA."
"We have been very impressed with the quality of methylated GSTP1 as a biomarker for prostate cancer," said Peter Klemm, Ph.D., President and Chief Executive Officer of Predictive Biosciences. "This biomarker will provide a valuable contribution to the portfolio of tests we are commercializing in the field of urologic oncology."
Prostate cancer is one of the most prevalent forms of cancer and the leading cause of cancer death in men in the U.S., with more than 230,000 cases diagnosed annually and more than 1 million prostate biopsies performed each year. The methylation of the GSTP1 gene is well established as a biomarker of prostate cancer and a test that detects methylated GSTP1 DNA in urine or tissue, in combination with conventional histopathology, may enable a more accurate diagnosis.
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Contact Epigenomics AG
Dr. Achim Plum Sen. VP Corporate Development Epigenomics AG Tel +49 (0) 30 24345 368 pr@epigenomics.com www.epigenomics.com
Contact Predictive Biosciences
Predictive Biosciences: Andy Hu, M.D. +1 (781) 402-1780 x202 www.predictivebiosci.com
About Epigenomics
Epigenomics AG is a molecular diagnostics company with a focus on the development of novel products for cancer. Using DNA methylation biomarkers, Epigenomics' tests on the market and in development for colorectal, lung, and prostate cancer aim at aiding in an earlier and more accurate diagnosis of these diseases, thereby potentially increasing the patient's chances of survival.
For development and global commercialization of IVD test products, Epigenomics pursues a dual business strategy in which direct commercialization of proprietary diagnostic test products is combined with non-exclusive licensing to diagnostic industry players with broad customer access. Strategic diagnostics industry partners include Abbott Molecular, Sysmex Corporation, Quest Diagnostics Incorporated, ARUP Laboratories, Inc., and Warnex Laboratories, Inc. for diagnostics test products and services, and QIAGEN N.V. for sample preparation solutions and research products.
The company is headquartered in Berlin, Germany, and has a wholly owned subsidiary, Epigenomics Inc., in Seattle, WA, USA. For more information, please visit Epigenomics' website at www.epigenomics.com
About Predictive Biosciences
Predictive Biosciences is a fully?integrated developer of novel molecular diagnostic cancer assays and an urology?focused provider of anatomic pathology laboratory products and services. Leveraging a portfolio of patented biomarkers and clinical approaches, the company is building a unique portfolio of assays for cancer management, first targeted at bladder and prostate cancer. Predictive Biosciences' commercial division, OncoDiagnostic Laboratory (ODL), is a Clinical Laboratory Improvement Act (CLIA)?certified anatomic pathology and molecular diagnostics lab with a national sales force serving urologists and other subspecialty physicians. For additional information, please visit www.predictivebiosci.com
Epigenomics' legal disclaimers. This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
The information contained in this communication does not constitute nor imply an offer to sell or transfer any product, and no product based on this technology is currently available for sale by Epigenomics in the United States of America. The analytical and clinical performance characteristics of any product based on this technology which may be sold at some future time by Epigenomics in the USA have not been established.
end of announcement euro adhoc
Further inquiry note:
Epigenomics AG
Dr. Achim Plum
Sen. VP Corporate Development
Tel: +49 30 24345 368
achim.plum@epigenomics.com
Branche: Biotechnology
ISIN: DE000A0BVT96
WKN: A0BVT9
Index: Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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