Genomic Vision Renews Its Strategic Collaboration with Quest Diagnostics for Three More Years
17 Février 2015 - 3:00PM
Business Wire
- Rights granted to Genomic Vision to
enter into further partnerships in the USA and to market new
molecular diagnostic tests around the world
- A substantial increase in royalty rate
from the sales of molecular combing tests
Genomic Vision (Paris:GV) (FR0011799907 – GV / PEA-PME
eligible), a molecular diagnostics company specialized in the
development of diagnostic tests for genetic diseases and cancers
based on molecular combing, today announces that it has signed an
amendment to its contract with Quest Diagnostics to extend their
strategic collaboration based on Genomic Vision's technology. The
amendment extends the collaboration for three more years, until
November 2018.
Under the terms of the amendment, Quest Diagnostics retains
exclusive rights to develop, validate and market tests based on
molecular combing in the fields of breast and ovarian cancer, such
as BRCA gene mutation testing, hereditary colon cancer (Lynch
syndrome), spinal muscular atrophy (SMA) and facioscapulohumeral
muscular distrophy (FSHD) in the United States, India and
Mexico.
Genomic Vision will continue to retain exclusive rights to
market its tests in Europe, the Middle East and Africa, per the
original agreement with Quest. Quest Diagnostics, an equity owner
in Genomic Vision, has granted Genomic Vision rights to seek to
develop new diagnostic tests in partnership with other providers of
diagnostic services or medical centers in the United States and to
market them all over the world. Genomic Vision will be able to
accelerate the number of diagnostic tests offered utilizing its
technology by working with leaders in many fields worldwide.
Quest will receive credits against milestone payments earned by
Genomic Vision in consideration for the rights granted. The royalty
rate paid to Genomic Vision by Quest Diagnostics for the provision
of testing services based on laboratory-developed molecular combing
tests will increase significantly. Additional terms were not
disclosed.
The extension follows an announcement by Genomic Vision in
January 2015 that it had delivered a high-throughput
molecular-combing genome analyzer to the Quest Diagnostics Nichols
Institute, an advanced genomics and R&D laboratory center in
San Juan Capistrano, Calif.
Charles (Buck) Strom, MD, PhD, Medical Director of Quest
Diagnostics Nichols Institute, Quest Diagnostics, comments: "We
believe molecular combing is a potential break-through technology
for analyzing and detecting gene variants missed by other
techniques, making it a superb complement to our next generation
sequencing offerings. We look forward to continuing to develop the
clinical and commercial value of this technology with future
genomic services."
“This is a truly great opportunity for Genomic Vision, which
will increase our value-creation potential in new indications with
new diagnostics players in the United States. In the constantly
evolving genetic testing market, healthcare providers and medical
laboratories have technological choices, and we are proud that
molecular combing is being considered by the world’s leading
diagnostic information services provider to advance its portfolio
of services for detecting hereditary cancers and other genetic
diseases,” said Aaron Bensimon, Genomic Vision’s co-founder and
President of the Management board.
Click here to display the complete press release.
Genomic VisionAaron BensimonCo-founder, Chairman &
CEOTel.: +33 1 49 08 07
50investisseurs@genomicvision.comorNewCapInvestor Relations
/ Strategic CommunicationsDušan Orešanský / Emmanuel HuynhTel.: +33
1 44 71 94 92gv@newcap.fr
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