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Biosite to Develop Diagnostics Based on Compugen s Biomarkers

NEW YORK, June 20 (GenomeWeb News) - Compugen and Biosite will partner on the development of diagnostic products based on biomarkers discovered by Compugen, the companies said today.

 

Under the terms of the agreement, Biosite has been granted an exclusive license to develop and commercialize immunoassay-based diagnostics products based on several gene targets that Compugen has identified.

 

Compugen will receive milestone payments and royalties from the sale of any diagnostic products that result from the collaboration, and will also retain the exclusive right to develop therapeutics based on the targets. Biosite would then in turn receive milestone payments and royalties from Compugen arising from any successful therapeutic application of the targets.

 

The agreement is the second diagnostic collaboration that Compugen has announced this month. Earlier in June, the company said that it had penned a diagnostic collaboration with Ortho-Clinical Diagnostics, a Johnson & Johnson company.