NEW YORK (GenomeWeb News) – French molecular diagnostics company IntegraGen has been awarded a €1.6 million ($2.4 million) interest-free loan from the French government to develop cancer biomarker tools, the company said Wednesday.
IntegraGen will use the loan from OSEO (the French state innovation agency) to partner with the French National Institute of Health and Medical Research (INSERM) to develop biomarker panels for personalized medicine and management of liver and colon cancer patients.
The Paris-based company will use the funds to validate research results previously generated by two INSERM units in a study involving several hundred patients, and to develop and implement a panel of diagnostic tests by 2013.
"This collaboration will catalyze the development of one of the first tools for truly personalized medicine for these types of liver tumor by enabling a significant improvement in tumor staging and the development of more efficacious treatments guided by molecular typing," Jessica Zucman-Rossi, an INSERM unit director and faculty member at Descartes University of Paris, said in a statement.
The loan will cover a three-year period and will be repayable after 2015 if the project is successful, IntegraGen said.