BERLIN, Feb. 19, 2008 (PRIME NEWSWIRE) -- Epigenomics AG (Other OTC:EPGNF) (Frankfurt:ECX) today announced that it signed a non-exclusive licensing agreement for its proprietary DNA methylation biomarker Septin 9 with Quest Diagnostics Incorporated (NYSE:DGX). Under the agreement, Quest Diagnostics has licensed rights to uses of the Septin 9 DNA methylation biomarker to develop a molecular-based laboratory test that can help physicians detect colorectal cancer based on a patient's blood specimen and can act as a supplement to conventional methods of colorectal cancer screening, including colonoscopy and fecal occult blood tests (FOBTs).
Quest Diagnostics is the first commercial laboratory in the U.S. to non-exclusively license the Septin 9 biomarker from Epigenomics. As a first-mover advantage, Quest Diagnostics was granted exclusivity for an undisclosed period in the U.S. In return for the Septin 9 rights, Epigenomics receives upfront and milestone payments as well as royalties on Quest Diagnostics' sales of its Septin 9 laboratory developed test. Additional terms were not disclosed.
The agreement with Quest Diagnostics on the commercialization of a laboratory developed blood test to aid in the early detection of colorectal cancer is a further step in Epigenomics' non-exclusive commercialization strategy for its proprietary Septin 9 biomarker for colorectal cancer. It complements the company's licensing agreement with Abbott Molecular, Inc. closed in September 2007 for worldwide non-exclusive rights to commercialize IVD test kits based on Septin 9.
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Further Information
For further information please see today's press release by Epigenomics AG which is available at www.epigenomics.com.
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