REDWOOD CITY, Calif., May 2, 2012 /PRNewswire/ -- Genomic Health, Inc. (Nasdaq: GHDX) and OncoMed Pharmaceuticals, Inc. (OncoMed) today announced a strategic alliance to use Next Generation Sequencing (NGS) to identify biomarkers that can be applied to the clinical development of OncoMed's novel antibody cancer therapeutics.
Under the terms of the agreement, OncoMed will provide Genomic Health with breast, prostate, colon and lung tumor samples. A subset of these tumors will include OncoMed's extensive bank of proprietary xenograft models derived from freshly resected human cancers. Genomic Health will apply its industry-leading NGS capabilities; including proprietary sample preparation, high-throughput sequencing and bioinformatics, to discover biomarkers that can help identify subsets of patients that will more likely respond to cancer therapeutics targeting the Notch, Wnt and other pathways critical to cancer stem cells.
"Working with like-minded, innovative cancer companies, we can utilize our proven NGS-based diagnostic research and development infrastructure to help optimize patient selection to accelerate clinical development of targeted cancer treatments," said Steven Shak, M.D., chief medical officer, Genomic Health. "This collaboration supports our long-term vision and belief that, molecular diagnostics are inherent for bringing quality, personalized care to all cancer patients from diagnosis through survivorship."
"Our priority is not only to develop therapeutic antibodies but to target their clinical use in the subsets of patients most likely to benefit through focused clinical plans, which include patient selection strategies at early stages of testing," said Paul J. Hastings, president and chief executive officer of OncoMed. "We believe the collaboration with Genomic Health will accelerate our already existing efforts of developing predictive biomarkers alongside the development of our anti-cancer stem cell therapeutics."
About Genomic Health
Genomic Health, Inc. (NASDAQ: GHDX) is a global health company that provides actionable genomic information to personalize genomic health decisions. Its lead product, the Oncotype DX® breast cancer test, has been shown to predict the likelihood of chemotherapy benefit as well as recurrence in invasive breast cancer and has been shown to predict the likelihood of recurrence in ductal carcinoma in situ (DCIS). In addition to this widely adopted test, Genomic Health provides the Oncotype DX colon cancer test, the first multigene expression test developed for the assessment of risk of recurrence in patients with stage II disease. As of March 31, 2012, more than 10,000 physicians in over 65 countries had ordered more than 275,000 Oncotype DX tests. Genomic Health has a robust pipeline focused on developing tests to optimize the treatment of prostate and renal cell cancers, as well as additional treatment decisions in breast and colon cancers. The company is based in Redwood City, California with European headquarters in Geneva, Switzerland. For more information, please visit, www.GenomicHealth.com. To learn more about Oncotype DX tests, visit: www.OncotypeDX.com and www.mybreastcancertreatment.org.
About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals is a clinical-stage company that discovers and develops novel therapeutics targeting cancer stem cells, the cells believed to be capable of driving tumor growth, recurrence and metastasis. A leader in cancer stem cell research, the company has established a library of antibodies to cancer stem cell proteins for the treatment of solid tumors such as pancreatic, breast, colorectal and lung cancers. OncoMed has advanced three anti- cancer stem cell monoclonal antibodies into the clinic, OMP-21M18, OMP-59R5, and OMP-18R5, which target key cancer stem cell signaling pathways including Notch and Wnt. In addition, OncoMed's pipeline includes several novel preclinical product candidates targeting multiple validated cancer stem cell pathways. OncoMed has formed strategic alliances with Bayer HealthCare Pharmaceuticals and GlaxoSmithKline. Privately-held, OncoMed's investors include: US Venture Partners, Latterell Venture Partners, The Vertical Group, Morgenthaler Ventures, Phase4 Ventures, Delphi Ventures, Adams Street Partners, De Novo Ventures, Bay Partners and GlaxoSmithKline. Additional information can be found at the company's website: www.oncomed.com.
Safe Harbor Statement- Genomic Health, Inc.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the potential results and outcomes of the strategic alliance; our ability to discover biomarkers that may help identify subsets of patients who may respond to cancer therapeutics; the ability to utilize NGS based infrastructure to help optimize patient selection and its impact on development of targeted treatments; our beliefs regarding the need for and value of molecular diagnostics; the belief that the collaboration may accelerate the development of biomarkers and targeted therapeutics; and; the focus and attributes of the company's product pipeline, including the ability of the company's tests to impact clinical practice. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the results of clinical and developmental studies; the applicability of clinical study results to actual outcomes; our ability to develop and commercialize new tests and the timing thereof; unanticipated costs or delays in research and development efforts; the applicability of initial next generation sequencing studies to future results; the success of our NGS efforts; our ability to use NGS to obtain the objectives of the strategic alliance; the risk that we may not obtain or maintain reimbursement for our existing tests and any future tests we may develop, both domestically and abroad; our ability to compete against third parties; the risks and uncertainties associated with the regulation of our tests by the FDA and other agencies abroad; and the other risks set forth in the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-K for the period ended December 31, 2011. These forward- looking statements speak only as of the date hereof. Genomic Health disclaims any obligation to update these forward-looking statements.
SOURCE Genomic Health, Inc.