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Swift Biosciences Has Signed a Technology License Agreement With Vela Diagnostics


12/3/2012 3:44:46 PM

ANN ARBOR, MI - December 3, 2012 -- Swift Biosciences, Inc. today announced that it has signed a technology license agreement with Vela Operations Pte. Ltd, the Singapore-based parent of Vela Diagnostics. The agreement gives Vela non-exclusive rights to utilize Swift’s myT® Primer technology in Vela’s real-time quantitative PCR-based IVD products for the detection of somatic mutations in human cancer. Vela will seek regulatory approval around the world for its assay kits while Swift will continue to develop myT Primers for RUO applications as well as license to other partners.

“By incorporating Swift’s myT® Primer technology into our Real-Time PCR based molecular diagnostic products, we will provide the market with highly sensitive mutation detection capabilities which will enhance the level of cancer patient care,” said Michael Tillmann, Vela’s CEO.

According to David Olson, CEO of Swift Biosciences, “We are very pleased to work with Vela to bring the power of myT Primer technology to the oncology diagnostics market. We look forward to supporting their growing product pipeline. This agreement is part of our larger licensing strategy of working with partners to incorporate myT Primers to regulated in vitro diagnostics. We anticipate additional license agreements going forward.”

About Swift Biosciences

Swift Biosciences is a small, fast-moving company focused on developing innovative enabling technologies for genomics and personalized medicine. Swift’s myT Primer technology was developed to provide both high sensitivity and specificity in mutation detection, making it ideal for cancer research and diagnostic applications. To date, Swift has developed myT Primers for the common mutations in BRAF and KRAS genes to demonstrate the superior performance capabilities of myT Primers for mutation detection. Swift’s myT technology is readily applicable to other mutations and infectious disease testing. Earlier this year, Swift launched two Research Use Only (RUO) myT Primer sets for BRAF V600E/K detection. One version of the product provides 1% sensitivity with no wild-type amplification, while an ultrasensitive version provides 0.01% sensitivity with very low wild-type amplification, ideal for use when the sample material is limiting or where the target is present at very low concentration, such as with circulating tumor cells (CTCs), serum, plasma and needle biopsies. Additional myT Primer reagents will be launched in the near future.

About Vela Diagnostics

VelaDx provides a broad menu of molecular diagnostic tests, consolidated on its automated Sentosa™ workflow system. The Group was incorporated by an industry experienced management team in 2011 with the vision of providing in-vitro diagnostic solutions for customers to achieve improved patient management. VelaDx is a privately owned Group of Companies headquartered in Singapore. The Asia Pacific, European and North American commercial operations of the Group are based in Singapore, Hamburg and New Jersey, respectively. VelaDx also operates R&D sites in Singapore and New Jersey in addition to a Global Manufacturing facility in Singapore. For more information, please visit us at www.veladx.com

Contact

Steve Spotts

Chief Commercial Officer

Swift Biosciences, Inc.

58 Parkland Plaza

Suite 100

Ann Arbor, MI 48103

734.330.2568

www.swiftbiosci.com

Ryan Tay

Global Marketing Manager

Vela Operations Singapore Pte Ltd

50 Science Park Road

Level 2 The Kendall

Singapore 117406

ryan.tay@veladx.com

+65 6672 6073


Read at BioSpace.com


   

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