MENLO PARK, Calif. & MELBOURNE, Australia--(BUSINESS WIRE)--Geron Corporation (Nasdaq:GERN - News) and Sienna Cancer Diagnostics (Melbourne, Australia) have signed a license agreement allowing Sienna access to critical granted patents and know-how related to the detection or measurement of telomerase activity.
Telomerase has great potential as a cancer biomarker, being present in about 95% of all epithelial cancers. Sienna’s lead product in development is a non-invasive assay that utilizes Sienna’s proprietary Telomerase Biosensor Technology (“TBT”) to detect telomerase activity in urine for the diagnosis of bladder cancer. The assay could supplement or replace invasive cystoscopy procedures. In the U.S. alone, approximately US$700 million are spent annually on cystoscopic procedures to monitor and diagnose the occurrence or recurrence of bladder cancer.
Under the terms of the license, Sienna gains worldwide exclusive rights within a defined field to Geron-controlled intellectual property to detect telomerase activity for the cancer in vitro diagnostics market. In consideration for the license, Geron received a significant equity interest in Sienna and is entitled to receive royalties on future product sales.
“We are pleased to have entered into this License Agreement and to have become a major shareholder in Sienna,” said David J. Earp, J.D., Ph.D., Geron’s senior vice president of business development and chief patent counsel.
Sienna’s chief executive officer Kerry A. Hegarty, Ph.D. said, “The agreement represents an outstanding opportunity not only for Sienna, but globally for patients, payers and clinicians who seek better, faster methods for the diagnosis and monitoring of cancer.” Dr. Hegarty continued, “Sienna’s pathway to commercialisation is now well-defined, secured by the agreement with Geron and a solid and talented workforce. It is a very exciting time for Sienna. We can now move rapidly through our product development program toward offering a range of high-value cancer diagnostic tests.”
About Telomerase
Telomerase is an enzyme, active in most cancer cells, that maintains telomere length at the ends of chromosomes. This activity confers replicative immortality to the cells in the tumor, allowing the cancer to grow and metastasize over long periods of time. Because telomerase is inactive or only transiently expressed in normal human tissues, and is critical to the growth and progression of most cancer types, it is regarded as a universal and specific cancer target. To date, no other established biomarker (e.g. prostate specific antigen (PSA) or CA-125 for ovarian cancer) has been shown to be expressed across such a wide range of cancer types, making telomerase one of the only accepted pan-cancer biomarkers.
About Sienna Cancer Diagnostics (Melbourne, Australia)
Sienna is an Australian public unlisted company, formed in 2002. Sienna’s mission is to increase value through global activities ensuring the delivery of highly sensitive, novel, robust and high-value test(s) for early detection of cancer, assessment of cancer treatments and assistance in drug development. Sienna’s association with the Ludwig Institute for Cancer Research has been strategic in allowing access and development of novel diagnostic technologies. For more information, visit www.siennadiagnostics.com.au.
About Geron Corporation (Menlo Park, California)
Geron is developing first-in-class biopharmaceuticals for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure and diabetes. The company is advancing an anti-cancer drug and a cancer vaccine that target the enzyme telomerase through multiple clinical trials. Geron is also the world leader in the development of human embryonic stem cell-based therapeutics, with its spinal cord injury treatment anticipated to be the first product to enter clinical development. For more information, visit www.geron.com.
Contact: Geron David L. Greenwood, 650-473-7765 Chief Financial Officer info@geron.com or
For Geron: Media and Investors: Russo Partners, LLC David Schull, 858-717-2310 david.schull@russopartnersllc.com Tracey Milani, 619-814-3511 tracey.milani@russopartnersllc.com or
Sienna Cancer Diagnostics Dr. Kerry Hegarty, +61 3 9347 0622 Chief Executive Officer khegarty@siennadiagnostics.com.au
Source: Geron Corporation
