NEW YORK (GenomeWeb) – Veracyte has entered into a co-promotion agreement with Genzyme for the Afirma Gene Expression Classifier test in Brazil and Singapore, according to the firm's Form 10-K recently filed with the US Securities and Exchange Commission.
Under the terms of the agreement, Veracyte will pay Genzyme 25 percent of cash receipts from the sale of the Afirma GEC test in Brazil and Singapore over a five-year period that began on Jan. 1, 2015.
The firm has also granted Genzyme, a Sanofi company, the exclusive right of first negotiation for promotion of the test in Canada, the Netherlands, and Italy. The partners may also add additional countries, other than the US, upon mutual agreement.
The agreement follows an August 2014 amendment to their existing partnership to reduce Veracyte's co-promotion fees.
Veracyte also disclosed in the SEC document that it has incurred costs of $1.2 million in severance and bonuses related to its acquisition of Allegro Diagnostics.