Pathwork Diagnostics, Novartis AG Strike Rare Research Deal

REDWOOD CITY, Calif., Jul 30, 2010 (BUSINESS WIRE) -- Pathwork Diagnostics Inc., a molecular diagnostics company focused on oncology, today announced that it has entered into a research collaboration with Novartis. The parties intend to discover clinically meaningful biomarker signatures that can serve as the basis for diagnostics across a range of cancer types. Under the terms of the agreement, both parties have rights to develop and commercialize the diagnostic products. Financial terms were not disclosed.

"There is no question that the future of cancer treatment will require and depend on molecular diagnostics," said Richard Klausner, M.D., former director of the National Cancer Institute and member of Pathwork Diagnostics Board of Directors. "The collaboration between Pathwork and Novartis has the potential to yield diagnostic products that improve the quality of cancer care worldwide."

About Pathwork Diagnostics

Pathwork Diagnostics Inc. develops and commercializes high-value molecular diagnostics for oncology and is a privately held company based in Redwood City, Calif. The company's Tissue of Origin Test is the only FDA-cleared molecular test that assists in the determination of the tissue of origin. The test uses microarray-based RNA profiling to compare the patient's specimen to a database of known tumor types. The accurate and reproducible results are evaluated by the physician in the context of the patients' clinical history and complementary diagnostics, such as immunohistochemistry. For more information on how to order the Tissue of Origin Test and Pathwork Diagnostics, please call toll-free 1.877.808.0006 or visit www.pathworkdx.com.