Agreement includes molecular diagnostics that detect metastasis and recurrence and laboratory for commercialization.
DiagnoCure secured exclusive, worldwide rights to two molecular tests for colorectal cancer from Targeted Diagnostics & Therapeutics (TDT). It also gained the option to a CLIA-certified U.S. service laboratory to commercialize molecular cancer diagnostics tests.
The two tests for colorectal cancer are based on the detection of guanylyl cyclase C (GCC), a gene that appears normally in cells lining the intestinal track but has only been found outside the intestine when colorectal cancer has metastasized.
DiagnoCure reports that initial research conducted by Scott A. Waldman, M.D., Ph.D., of Thomas Jefferson University showed GCC to be 95–100% accurate in detecting the spread or recurrence of colon cancer, in lymph nodes or blood.
While the total value of the transaction will not be disclosed, DiagnoCure’s initial payment includes $2.2 million in shares to TDT. It will also pay performance-based milestone and royalties on revenues generated by the tests.
