Liege (Belgium) and Marlborough, MA (USA) - June 12, 2007, 8:00am CET - OncoMethylome Sciences (Euronext: ONCO) and EXACT Sciences Corporation (Nasdaq: EXAS) announced today that the companies have entered into agreements to advance the commercialization of stool-based colorectal cancer (CRC) screening technologies through service laboratories in Europe and North America.
Under the terms of a license agreement, EXACT has granted non-exclusive rights to its DNA stabilization, isolation and extraction technology to OncoMethylome for commercializing stool-based CRC screening tests in Europe that utilize OncoMethylome's methylation detection technology (Methylation-Specific PCR, or MSP). In exchange, OncoMethylome has agreed to pay royalties to EXACT based on sales.
Separately, the companies entered into a supply agreement in which OncoMethylome will sell reagents to EXACT for use in stool-based CRC screening services that EXACT may provide in North America. The reagents will enable EXACT to detect methylation at certain DNA markers using MSP technology. In addition, under the terms of this agreement, OncoMethylome also agreed to sell reagents to EXACT's commercial partners, subject to their negotiation with OncoMethylome of certain financial terms and other elements. Further financial details of the license and supply agreements were not disclosed.
The detection of methylated DNA is a key component of EXACT Sciences' Version 2 technology, which demonstrated 88 percent sensitivity for detecting colorectal cancer in a clinical study. The results of this study were published in the journal Clinical Gastroenterology and Hepatology in January, 2007.
To read the full press release, please click on the link below:
About OncoMethylome Sciences
OncoMethylome Sciences (Euronext Brussels: ONCOB; Euronext Amsterdam: ONCOA) is a molecular diagnostics company developing patent-protected 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., Chemicon International Inc., 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).
About EXACT Sciences Corporation
EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings® (LabCorp®) for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than 20 years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies will help enable detection of colorectal cancer so that more people can be effectively treated. Founded in 1995, EXACT Sciences is based in Marlborough, Mass. PreGen-Plus(TM) has not been approved or cleared by the Food & Drug Administration.
For further information, please contact:
OncoMethylome Sciences:
or visit: www.oncomethylome.com
EXACT Sciences:
Jeff Luber
Tel. +1-508-683-1200
jluber@exactsciences.com
or visit www.exactsciences.com
Jeff Luber
Tel. +1-508-683-1200
jluber@exactsciences.com
or visit www.exactsciences.com
