BERLIN, Germany and SEATTLE, Nov. 18, 2008 (GLOBE NEWSWIRE) -- Epigenomics AG (Frankfurt:ECX) (ISIN:DE000A0BVT96) and Abbott Molecular Inc. (Abbott) today have expand their non-exclusive strategic partnership and amended their collaboration and license agreement in molecular diagnostics closed on September 25, 2007 accordingly.
Under the amended agreement Abbott obtains additional non-exclusive commercial licenses to Epigenomics' proprietary DNA methylation technology to develop and commercialize a blood test for colorectal cancer detection based on Epigenomics' biomarker Septin 9. Further, Abbott obtains access to blood samples collected in the ongoing PRESEPT clinical study sponsored by Epigenomics. The samples are to be used in the clinical validation of an Abbott Septin 9 IVD test product for regulatory approval in the U.S. In return, Epigenomics will receive a technology license fee, certain milestone payments and reimbursements in connection with the PRESEPT study and royalties on product sales.
Both companies jointly work with good progress and according to plan on the development of a Septin 9 IVD test product for Abbott's m2000 molecular diagnostics instrument and continue anticipating the launching of a CE-marked test in Europe in late 2009 followed by regulatory filing for U.S. approval in 2010.
The Septin 9 blood test for colorectal cancer detection is Epigenomics' leading product in development. With the PRESEPT clinical study, Epigenomics intends to demonstrate that blood testing for colorectal cancer with the Septin 9 biomarker fulfils the requirements of current U.S. guidelines for colorectal cancer screening and has the potential to provide health economic benefits.
End of ad hoc announcement
Further Information
For further information on Epigenomics AG please visit www.epigenomics.com. For Information on the PRESEPT clinical study please visit www.presept.net.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
Epigenomics AG
Kleine Praesidenten str.1 Berlin, Germany
WKN: A0BVT9; ISIN: DE000A0BVT96; Index: CDAX, Prime All Share, TECH All Share; Listed: Amtlicher Markt in Frankfurter Wertpapierborse, Prime Standard in Frankfurter Wertpapierborse, Freiverkehr in Borse Berlin, Freiverkehr in Borse Dusseldorf, Freiverkehr in Hanseatische Wertpapierborse zu Hamburg, Freiverkehr in Bayerische Borse Munchen, Freiverkehr in Borse Stuttgart