NEW YORK (GenomeWeb News) – Myriad Genetics has licensed from Chronix Biomedical the rights to technology for early detection of cancer.
The Salt Lake City-based molecular diagnostics developer said in a statement today that it has licensed rights to the technology in North America, South America, and Europe for early detection of breast, colon, and prostate cancers. It will pay San Jose, Calif.-based Chronix upfront fees, milestone payments, and royalties based on technical and commercial success of the products.
Chronix's technology uses disease-specific biomarkers based on DNA fragments from damaged and dying cells that circulate in the bloodstream and are applicable to a range of cancers and other diseases. According to Myriad, a study of 575 individuals that was presented at the American Society of Clinical Oncology showed that Chronix's technology had 92 percent sensitivity and 100 percent specificity in indicating the presence of prostate or breast cancer.
"The technology we have licensed from Chronix Biomedical has the potential to revolutionize the early detection of cancer through the analysis of unique DNA sequences in blood samples," Mark Capone, president of Myriad Genetic Laboratories, said. "This acquisition is consistent with our strategy to broaden our preventive care portfolio beyond predictive medicine products for women's health, and supply healthcare providers with enhanced tools to catch disease early, when it is most treatable."