QUEBEC CITY, Nov. 2 /PRNewswire-FirstCall/ - DiagnoCure Inc. , a leading developer and provider of innovative high-value molecular diagnostics and cell-based assays for early detection of cancer, is pleased to announce that, for financial consideration, it has licensed from Genzyme Corporation worldwide exclusive rights to approximately 40 genes for potential use in the field of detecting lung cancer. Under the terms of the agreement, DiagnoCure will pay upfront and milestone payments as well as royalties on sales of products. In exchange, Diagnocure will gain access to Genzyme intellectual property covering gene sequences related to the detection of lung cancer. Also under the agreement, DiagnoCure has granted to Genzyme an option to become DiagnoCure’s commercialization partner for any diagnostic product developed using one or more of the licensed genes. Genzyme Genetics business unit would commercialize the products through its national esoteric testing salesforce and network of 8 laboratories located across the United States.
“This agreement with Genzyme confirms our commitment to becoming a leader in lung cancer detection”, stated Pierre Desy, President and Chief Executive Officer. “We intend to apply our developmental expertise to explore all applications of these potential markers utilizing bronchial aspirates, sputum, expectoration and blood samples. We are very pleased with this collaboration, which combines Genzyme’s experienced research capabilities in identifying potential molecular markers and the U.S. cancer testing network of Genzyme Genetics with our expertise in the development of kits for the early detection of cancer which shall meet Genzyme’s high standards.”
DiagnoCure announced in November of 2004 the promising results of an early study with a prototype lung cancer assay using bronchial aspirates as a sample. The test detected over 90% of the cancers against 37% with routine cytology. The genes acquired from Genzyme in this agreement are intended to supplement those in the previously announced test. The company will use these newly acquired genes to optimize the performance of the original assay and develop new tests that employ other sample types such as blood, sputum, or biopsy materials.
“Genzyme is committed to developing innovative testing technologies to help physicians provide the best care possible to their patients with cancer. Genzyme is pleased to enter into this agreement with DiagnoCure, which reinforces our commitment and provides us with a potential opportunity to expand our lung cancer test menu”, says Mara Aspinall, President, Genzyme Genetics.
About DiagnoCure
DiagnoCure specializes in the development, production and commercialization of diagnostic tests for the early detection of cancers. DiagnoCure’s first product, ImmunoCyt(TM) /uCyt+(TM), is an important tool for the diagnosis and monitoring of bladder cancer. In 2003, the Company completed the development of uPM3(TM), a non-invasive test for the early detection of prostate cancer, and granted an exclusive worldwide license for the use of the PCA3 technology in prostate cancer diagnosis to Gen-Probe . In 2004, the company launched a first version of its automated microscopy workstation that screens, performs image analysis, reports and archives data and images. After successfully completing a lung cancer pilot study, DiagnoCure is now developing a first generation molecular assay on bronchial aspirates. The Company is continuing the validation of markers for integration into a prototype test for the early detection of kidney cancer and just initiated a program on breast cancer. DiagnoCure is headquartered in Quebec City, Canada. Additional information can be found at www.diagnocure.com .
Forward-looking statements
Certain statements in this release are forward-looking. These statements are based on DiagnoCure’s current expectations and involve many risks and uncertainties. DiagnoCure undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
DIAGNOCURE INC.
CONTACT: DiagnoCure Inc., Thom Skinner, Chief Financial Officer, (418)527-6100, communications@diagnocure.com