Liege (Belgium) - January 30, 2008, 8:00am CET - OncoMethylome Sciences (Euronext Brussels ONCOB, Euronext Amsterdam ONCOA) announced today that it plans to launch a large, international, multi-center colorectal cancer clinical trial. The German portion of the international trial will be managed by Signatures Diagnostics. Signature Diagnostics will receive an upfront payment plus service fees for its contribution to the clinical trial. In addition, both companies also agreed that OncoMethylome Sciences will obtain first negotiation rights on a test in development by Signature Diagnostics for predicting outcomes in colorectal cancer patients. Subject to certain conditions that are standard for this type of transactions, OncoMethylome Sciences also agreed to acquire a minority interest in Signature Diagnostics.
Additional details and financial terms of the agreement were not disclosed.
“Signature Diagnostics demonstrated that it is able to support a large, multi-center, prospective clinical trial in colorectal cancer with its trial technology. OncoMethylome plans to use this new trial for large-scale, international, validation of OncoMethylome’s blood test for colorectal cancer screening,” commented Herman Spolders, CEO of OncoMethylome Sciences. “In addition, the test in development by Signature Diagnostics complements our own product development pipeline; therefore, we are happy to obtain first negotiation rights on this potential product.”
“This financial commitment from OncoMethylome is a vote of confidence in our clinical programs and in our product development pipeline. We welcome OncoMethylome into our group of shareholders”, added Andre Rosenthal, CEO of Signature Diagnostics.
To download this press release as a PDF, click here: Press Release PDF
About OncoMethylome Sciences OncoMethylome Sciences (Euronext Brussels: ONCOB; Euronext Amsterdam: ONCOA) is a molecular diagnostics company developing gene methylation tests to assist physicians in effectively detecting and treating cancer. Specifically, the company’s tests are designed to help the physician (i) accurately detect cancer in early stages of cancer development, (ii) predict a patient’s response to drug therapy, and (iii) predict the likelihood of cancer recurrence.
OncoMethylome boasts a broad product development pipeline consisting of ten products and a solid partnering record. The company collaborates with leading international molecular oncology research centers, such as The Johns Hopkins University, and has a number of commercial and collaborative partnerships with Veridex LLC, a Johnson & Johnson company, Schering-Plough Corp., GlaxoSmithKline Biologicals, Abbott, Millipore Corporation’s BioScience Division, and EXACT Sciences Corp. OncoMethylome’s products are based on methylation technology invented by Johns Hopkins University (USA).
Established in January 2003, OncoMethylome has offices in Liege and Leuven (Belgium), in Durham, NC (USA), and in Amsterdam (the Netherlands).
For further information, please visit: www.oncomethylome.com
About Signature Diagnostics AG Signature Diagnostics (www.signature-diagnostics.de) is dedicated to the discovery, validation and commercial development of novel diagnostic products that predict outcome and drug response in patients with colorectal cancer (CRC), non-small cell lung cancer (NSCLC) and ovarian cancer. Signature believes that patient selection and stratification based on molecular gene signatures will soon become an important component of routine cancer treatment. Signature sponsors and executes large prospective multicentre trials in CRC and NSCLC involving several thousand of patients according to ICH standards. Signature aims to improve the quality of decision making in cancer treatment and patient care.
Based in Potsdam, Germany, Signature was founded in 2004.
For more information please contact: Lucija Turcinov Tel. +32-479-801-902 Lucija.Turcinov@oncomethylome.com
