Bionomics Limited Licenses Two Epilepsy Diagnostics To Laboratory Corporation of America Holdings
ADELAIDE, Australia, Nov. 2 /PRNewswire-FirstCall/ -- Bionomics announced today that it has licensed two genetic tests for the diagnosis of epilepsy to Laboratory Corporation of America(R) Holdings (LabCorp(R)) .
LabCorp had annual sales in excess of US$3.0 billion in 2004 and is the second largest provider of diagnostic services in the US. Through its national network of 33 clinical laboratories and approximately 1,300 patient service centers, LabCorp provides clinical testing services to more than 220,000 physicians, government agencies, managed care organizations, hospitals, clinical labs and pharmaceutical companies.
The tests licensed to LabCorp will assist physicians to distinguish and properly treat a variety of seizure disorders that occur in infants and young children. Bionomics will receive upfront fees and royalties on the sale of the tests by LabCorp.
"We are very pleased that these two important diagnostic products will soon be made available through LabCorp's extensive network in the US. We are hopeful that their appropriate use by physicians will lead to improved care for infants with epilepsy," said Bionomics' CEO and Managing Director, Dr. Deborah Rathjen. "This is a medical advancement, as well as another significant commercial milestone for our company."
The first test is for a condition known as Severe Myoclonic Epilepsy of Infancy (SMEI). SMEI is a "catastrophic" epilepsy with a high mortality rate and association with mental retardation. Accurate diagnosis is important as some standard drugs for epilepsy may actually aggravate seizures in SMEI patients.
The second test, called the Benign Familial Seizures Panel, is based on the identification of mutations in three different genes that are associated with seizures. It may be useful in diagnosis for many children under one year of age that experience seizures without fever.
"Seizures in infants and young children can be difficult to diagnose for physicians and are extremely distressing for parents. We are gratified that these tests will now be widely available to assist physicians in diagnosis," said Dr. Samuel Berkovic of the University of Melbourne, a co-inventor of both tests. "This should lead to improved care for the children affected and greater peace of mind for their parents."
Under the terms of the license agreement, LabCorp will pay Bionomics an upfront fee on signing and royalty payments on net sales. Further details of the license agreement are unable to be disclosed for commercial reasons.
LabCorp is the first licensee of Bionomics' BFSP test and the third licensee for the SMEI test.
For further information please contact: Dr. Deborah Rathjen CEO & Managing Director Bionomics Limited Ph: +61 8 8354 6101 About Bionomics Limited
Bionomics discovers and develops innovative therapeutics, working with partners to maximize wealth for shareholders. The Company leverages its proprietary platforms MultiCore(R), ionX(R) and Angene(R) to discover new treatments for CNS disorders, including anxiety and epilepsy, and cancer.
For more information about Bionomics, visit http://www.bionomics.com.au .
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CONTACT: Dr. Deborah Rathjen, CEO & managing director of BionomicsLimited, +61-8-8354-6101
Web site: http://www.bionomics.com.au/