GeneNews entered a memorandum of understanding (MOU) with Shanghai Biochip (SBC) to enter into an alliance to establish the first Sentinel Centre for Personalized Medicine in China. GeneNews and SBC would jointly establish and manage the center to co-develop and commercialize products based on GeneNews' platform, the Sentinel Principle®.
In addition, the MOU sets forth the main criteria to be incorporated into definitive development, distribution, and license terms under which SBC would obtain nonexclusive rights to market and sell GeneNews' ColonSentry™ test in China. A formal agreement is expected to be negotiated and executed before the end of the company's third fiscal quarter of this year.
GeneNews develops blood-based biomarker tests for the early detection of diseases and personalized health management. Its Sentinel Principle technology is based on the concept that all clinical conditions and body states including those resulting from disease or in response to treatment generate characteristic gene-expression signatures in the blood as a result of the constant and dynamic physiological interaction of blood with the cells, tissues, and organs of the human body.
This technology is the basis of GeneNews' initial product, ColonSentry, a blood test for colorectal cancer, and the SentinelGx™ suite of services. GeneNews' patent portfolio includes issued foundational patents and pending patents in diverse areas such as cancer, cardiovascular, neurological, and inflammatory conditions.
Shanghain Biochip is an engineering center for microarray and gene-expression profiling technologies. It has a network of academic, clinical, and medical partners that utilize its expertise and services as a contract research organization and biobanking facility.
"We are focused on bringing leading-edge technologies to the people of China to improve healthcare outcomes," states Dr. Yuchen Chen, director, business development of SBC. "We are looking forward to working with GeneNews to establish the world's first Sentinel Centre for Personalized Medicine to advance the development and commercialization of innovative, noninvasive tests targeted at early disease detection in China."