SAN FRANCISCO, Nov. 11, 2013 (GLOBE NEWSWIRE) -- CollabRx, Inc. (Nasdaq:CLRX), a data analytics company focused on informing clinical decision making in molecular medicine, today announced a multi-year, non-exclusive agreement with Quest Diagnostics (NYSE:DGX), the world's leading provider of diagnostic information services, related to medical annotation for new next-generation sequencing test services for cancer.
Under the agreement, Quest Diagnostics has the right to incorporate into clinical test reports for its next-generation sequencing cancer tests medical content, such as scientific literature, medical guidelines and published therapeutic protocols. The service was developed by CollabRx and customized for use by Quest Diagnostics. The annotated content may help physicians better understand, through the database, the clinical significance of test results indicating the presence of one or more gene mutations. Quest will also have the right to incorporate the CollabRx content into clinical trials services performed on behalf of its pharmaceutical and other clients. Additional terms of the agreement were not disclosed.
"CollabRx is privileged to provide a customized version of our recently launched Genetic Variant Annotation (GVA) Service™ to Quest Diagnostics, one of the most influential and highly respected companies in the area of diagnostic innovation," said Thomas Mika, Chairman, President & CEO of CollabRx. "Quest Diagnostics has a robust track record and capability in next generation sequencing and molecular clinical diagnostics, making it well positioned to help providers gain the most from CollabRx's expertise and services. This collaboration will expand our reach to physicians and patients and help the cause of precision medicine with sound science and informed treatment planning."
"The Quest Diagnostics agreement demonstrates CollabRx's accelerating pace of business and channel development in 2013," said Mika. "This new milestone attests to the growing adoption of CollabRx technology and interpretive analytics in top-tier laboratories worldwide as a standard aspect of test reporting for clinical genetic sequencing in cancer and other diseases."
Quest Diagnostics, which generated revenues of about $7.4 billion in 2012, serves about half the physicians and hospitals and one in three adults in the U.S. annually.
About CollabRx
CollabRx, Inc. (Nasdaq:CLRX) is a recognized leader in cloud-based expert systems to inform healthcare decision-making. CollabRx uses information technology to aggregate and contextualize the world's knowledge on genomics-based medicine with specific insights from the nation's top cancer experts, starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. More information may be obtained at http://www.collabrx.com.
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