Press release from PR Newswire
PrimeraDx to Co-Develop Companion Diagnostics with Quest Diagnostics
Tuesday, March 26, 2013
PrimeraDx to Co-Develop Companion Diagnostics with Quest Diagnostics08:08 EDT Tuesday, March 26, 2013Quest Diagnostics to use PrimeraDx's ICEPlex® platform for the development of multiplexed, multi-modal diagnostic information servicesMANSFIELD, Mass., March 26, 2013 /PRNewswire/ -- PrimeraDx, Inc., a molecular diagnostics company, today announced it has formed a non-exclusive diagnostics co-development agreement with Quest Diagnostics (NYSE: DGX), the world's leading diagnostics information services company. The intent of the collaboration is to co-develop and commercialize molecular diagnostic products and services with a focus on supporting clinical development of targeted therapeutics for drug developers.Under the agreement, Quest Diagnostics has rights to use the PrimeraDx ICEPlex Platform to independently develop and use laboratory tests in early-phase biomarker and drug development studies and clinical trials with biotechnology, pharmaceutical and medical device clients of Quest Diagnostics Clinical Trials, a business of Quest Diagnostics. PrimeraDx will also have rights to develop and market in vitro diagnostic products, assuming FDA approvals for those targeted therapies. In addition, Quest Diagnostics has rights to validate and offer clinical diagnostic information services, based in part on the assays created during drug development, as aids in making treatment decisions for those drugs that are successfully commercialized and FDA approved for clinical use. PrimeraDx launched the ICEPlex system in August 2011. The system can simultaneously detect and quantify disparate target types, such as mRNA, miRNA, SNPs, DNA mutations, fusions and DNA methylation. Its ability to characterize complex molecular changes makes it well suited to research and development for diseases, such as cancer, that involve systemic or multiple molecular changes. The companies expect to direct their initial collaborations on cancer, although they may also explore opportunities in infectious diseases, genetics and other conditions. "This collaboration with Quest Diagnostics will enable pharmaceutical and other companies to access the unique capabilities of the PrimeraDx technology in the form of targeted diagnostic services and products," said Matt McManus, MD, PhD., President and CEO of PrimeraDx. "Quest Diagnostics' remarkable strength in clinical diagnostics makes them a superb partner to maximize the value of the ICEPlex system for biomarker, drug and diagnostic development. We look forward to working with them and their clinical trials clients to hasten the discovery and development of drugs and companion diagnostics that can improve outcomes for patients with cancer and other diseases."About PrimeraDxPrimeraDx is a molecular diagnostics company marketing a novel, game-changing clinical platform which combines PCR with capillary electrophoresis for multiplexed, multi-modal, molecular diagnostics used in Oncology, Infectious Disease, and Genetic testing. The result of combining these two well-known technologies into a bench-top instrument is the ability to deliver highly multiplexed, multi-modal, and quantitative answers to the clinic. The company is pursuing a two-pronged strategy to sell the system in an Open Platform Mode to clinical labs and to independently develop high-value molecular diagnostic products. Users can easily design very complex multi-modal assays that test for disparate target types, like SNPs, expression biomarkers, microRNAs and fusion genes. PrimeraDx's technology represents the next generation of quantitative, multiplex PCR. The Company is backed by a strong group of experienced venture-capital investors, including Abingworth, InterWest Partners, CHL Medical Partners, and Malaysian Technology Development Corporation. The Company's website is: www.primeradx.com.CONTACT: Ted Myles, CFO, (508) 618-2300SOURCE PrimeraDx, Inc.