NEW YORK (GenomeWeb News) – OncoMethylome Sciences said Tuesday it has contracted the German company Signature Diagnostics to help it manage the German component of its multi-center clinical trials for a colorectal cancer diagnostic.
Under the agreement, OncoMethylome also has acquired a minority interest in Potsdam-based Signature Diagnostics, and it will give the company an up-front payment as well as service fees. Additional financial terms of the agreement were not disclosed.
The deal also gives OncoMethylome first negotiation rights on a test Signature Diagnostics is developing to predict colorectal cancer patient outcomes.
"Signature Diagnostics demonstrated that it is able to support a large, multi-center, prospective clinical trial in colorectal cancer with its trial technology,” OncoMethylome CEO Herman Spolders said in a statement.
Liege, Belgium-based OncoMethylome is focused on developing tests for detecting cancer in its early stages, predicting patient response to therapeutics, and predicting the chance of cancer recurrence.