Cambridge, UK – 23 January 2012 - Lab21 Limited, the global specialist in personalized medicine and clinical diagnostics, today announces the completion of a worldwide license from Cooperative Diagnostics to use its suite of patents and expertise for the development of its growing pipeline of molecular diagnostic kits. Financial details of the agreement were not disclosed.
Cooperative Diagnostics, based in Greenwood, South Carolina has undertaken completely innovative approaches to develop novel molecular technologies using biophysical models and statistical bioinformatics and has successfully commercialized a series of assays in the infectious disease area to demonstrate the capability of their technology.
Graham Mullis, CEO at Lab21 explained “Lab21 has established a global business in immunodiagnostic assays. The company is also developing a pipeline of nucleic-acid tests. The Cooperative Diagnostics technologies bring powerful new tools to our development capability including fifth generation real-time PCR technology and we expect to launch our first CE marked companion diagnostic assays using this technology during the first half of 2012. These tests will be commercialized through our international distribution networks and particularly through our key global OEM partners.”
Dr Berwyn Clarke, CSO at Lab21 said: “As part of this agreement we have exclusive use of this technology on a set of defined biomarker targets particularly in the oncology and infectious disease areas. Preliminary work has shown that assay development times can be reduced significantly and that performance is often better in terms of existing gold standards of sensitivity and specificity. We expect the technology to deliver a substantial number of new assays in the first 12 months and will be of significant interest to pharmaceutical companies needing to fast track companion diagnostic development.”
Dr. Brent C. Satterfield, Cooperative Diagnostics’ President and Founder, said: “This agreement with Lab21 allows us to accelerate our rate of test development and deployment. We are confident that our technology will provide a springboard to strengthen Lab21’s continued growth into the coming years.”
For further information:
Lab21
Berwyn Clarke, CSO
t: +44 (0)1223 395461
e: berwyn.clarke@lab21.com
For media and investor enquiries:
College Hill
Nicole Yost/Gemma Howe
t: +44 (0)20 7457 2020
e: lab21@collegehill.com
About Lab21
Lab21 is a global leader in personalized healthcare. It provides diagnostic products and services and supports blood bank screening, medical diagnostics and drug discovery. Lab21 customers include international healthcare providers, pharmaceutical and diagnostic companies. The Products division of Lab21 manufactures immunodiagnostic kits and reagents that are distributed internationally and is focused on infectious diseases for the blood-banking and clinical markets. Our clinical services operations have a growing test portfolio providing companion diagnostics and high technology molecular assays. Lab21’s corporate offices are based in Cambridge, UK and Greenville, South Carolina, with a GMP manufacturing site in Cambridge and other manufacturing facilities in Newmarket, Camberley, Manchester and Bridport. Website: www.lab21.com
About Cooperative Diagnostics
Cooperative Diagnostics, established in 2007, was founded with the mission to bring the most advanced molecular diagnostics to the people and nations that need them most. With real-time PCR tests for diseases like HIV, Hepatitis C (HCV) and Dengue approved for market in Latin America, the company is currently expanding sales into countries around the world. For more information, please visit www.codiagnostics.com
