VIB INKS QBASE+ GROUP LICENSING AGREEMENT WITH BIOGAZELLE: http://t.co/EkimyQQSZW
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Exact Sciences Corp. (Nasdaq: EXAS) and OncoMethylome Sciences S.A. (Euronext Brussels: ONCOB) today announced that they have entered into a license agreement under which Exact Sciences has obtained exclusive, worldwide rights to up to two OncoMethylome Sciences' DNA methylation biomarkers for use in stool-based detection of colorectal cancer. Exact Sciences has also gained non-exclusive access to part of OncoMethylome's platform technology. In return, OncoMethylome Sciences will receive milestone payments and royalties on net sales.
DNA methylation regulates gene expression, and multiple scientific studies have shown that methylation markers are clinically relevant markers for colorectal cancer. In cancers and pre-cancers, methylation biomarkers are typically present more frequently than individual DNA mutation biomarkers, and as a result, fewer methylation markers are required to detect most cancers and pre-cancers.
"We are delighted to be able to add new markers to our current test panel," said
Kevin T. Conroy, president and chief executive of Exact Sciences. "Our team has developed a new approach to stool-DNA testing that uniquely includes multiple methylation markers in a single assay, and achieves exceptionally high sensitivity and specificity. The inclusion of these markers makes us even more confident about the likelihood of success with our upcoming validation study, the results of which we plan to discuss on October 29, 2010 at the American Association of Cancer Research (AACR) colorectal cancer meeting in Philadelphia. We also look forward to presenting preliminary performance data on the combination of methylation biomarkers in colorectal cancer and pre-cancer tissue tomorrow, July 28, 2010, at the American Association of Clinical Chemistry (AACC) annual meeting in Anaheim, Calif."
"We believe that the combination of our biomarkers and platform with the test panel of Exact Sciences holds great promise for the development of a very powerful detection tool for colorectal cancer," stated Jan Groen, president and chief executive officer of OncoMethylome Sciences. "Exact Sciences has made impressive progress in the development of their test panel, and this licensing agreement allows OncoMethylome to more rapidly and effectively capitalize on the value of its colon cancer program".
Source: OncoMethylome Sciences