Genomic Health Announces Research Collaboration With Janssen to Evaluate the Oncotype DX Genomic Prostate Score Test for Potential Drug Development
Additionally, Genomic Health Makes a $4M Equity Investment in Biocartis, Furthering Collaboration to Develop an IVD version of the Oncotype DX Breast Recurrence Score® Test
REDWOOD CITY, Calif., Dec. 6, 2017 /PRNewswire/ -- Genomic Health, Inc. (NASDAQ: GHDX) today announced a multi-year research collaboration agreement with Janssen Pharmaceuticals to evaluate the Oncotype DX Genomic Prostate Score™ (GPS™) test for their prostate cancer drug pipeline. As part of the agreement, Genomic Health will test samples from Janssen studies to examine the association of GPS results with clinical outcomes.
"Janssen is a recognized leader in oncology and their selection of the Oncotype DX GPS test reflects the best-in-class value that it delivers in stratifying patient risk and may reveal potential for guiding treatment selection for prostate cancer patients in the future," said Phil Febbo, M.D., chief medical officer, Genomic Health.
IVD Collaboration with Biocartis Strengthened
Genomic Health recently made a $4 million equity investment in Biocartis further strengthening the partnership between the companies to develop an in vitro diagnostic (IVD) version of the Oncotype DX Breast Recurrence Score® test on the Idylla™ platform that can be performed locally by laboratory partners and in hospitals around the world.
"Our commitment to developing an IVD test with a leading innovator like Biocartis will not only broaden global adoption and access to Oncotype DX, but will also provide a platform that could facilitate additional collaborations with pharmaceutical companies seeking diagnostic partner solutions with the ability to develop and offer tests globally through decentralized settings," said Frederic Pla, Ph.D., chief business and product development officer, Genomic Health.
About Genomic Health
Genomic Health, Inc. (NASDAQ: GHDX) is the world's leading provider of genomic-based diagnostic tests that help optimize cancer care, including addressing the overtreatment of the disease, one of the greatest issues in healthcare today. With its Oncotype IQ® Genomic Intelligence Platform, the company is applying its world-class scientific and commercial expertise and infrastructure to lead the translation of clinical and genomic big data into actionable results for treatment planning throughout the cancer patient journey, from diagnosis to treatment selection and monitoring. The Oncotype IQ portfolio of genomic tests and services currently consists of the company's flagship line of Oncotype DX® gene expression tests that have been used to guide treatment decisions for more than 800,000 cancer patients worldwide. Genomic Health is expanding its test portfolio to include additional liquid- and tissue-based tests, including the recently launched Oncotype SEQ® Liquid Select™ test. The company is based in Redwood City, California, with international headquarters in Geneva, Switzerland. For more information, please visit, www.GenomicHealth.com and follow the company on Twitter: @GenomicHealth, Facebook, YouTube and LinkedIn.
Genomic Health Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's beliefs regarding its future performance and the performance of its tests; the company's ability to develop and commercialize, and collaborate with third parties, including Janssen Pharmaceuticals and Biocartis, to commercialize additional tests in the future; the potential for the research collaboration to result in any tests for guiding treatment selection in high risk prostate cancer patients; the company's expectations regarding timing, geographic rollout and adoption of any tests on the Idylla platform; and the company's ability to successfully develop an in vitro diagnostic version of the Oncotype DX test and obtain regulatory approval of the test in the United States and Europe. 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 company's ability to execute its business model; the regulation of the company's tests or any tests offered through its commercial channel; the applicability of clinical study results to actual outcomes; the company's ability to develop, commercialize or collaborate to offer any new test in new markets domestically and internationally; the risk that sufficient levels reimbursement may not be obtained or maintained, domestically or abroad, for the company's tests or tests offered through its commercial channel; competition; unanticipated costs or delays in research and development efforts; the company's ability or the ability of its collaborators to obtain capital when needed to support the activities contemplated by the collaboration described in this press release; and the other risks and uncertainties set forth in Genomic Health's filings with the Securities and Exchange Commission, including the risks set forth in Genomic Health's Quarterly Report on Form 10-Q for the quarter ended September 30, 2017. These forward-looking statements speak only as of the date hereof. Genomic Health disclaims any obligation to update these forward-looking statements.
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SOURCE Genomic Health, Inc.
Company Codes: NASDAQ-NMS:GHDX