NEW YORK (GenomeWeb News) – Australian biotech firm Clinical Genomics today announced the extension of a deal with Quest Diagnostics covering Clinical Genomics' biomarkers for colorectal cancer and precancerous colorectal cancer tumors.
Under the terms of the extension, Quest will make unspecified milestone payments to Clinical Genomics to develop and validate molecular tests for the early detection of the cancer. In 2009, the firms announced a licensing deal to develop Clinical Genomics' biomarkers as a detection tool.
As part of the original agreement, Quest has made payments to Clinical Genomics after it achieved key research and development goals.
Citing statistics from the American Cancer Society, Clinical Genomics said that colorectal cancer is the second most common cause of cancer death in the United States. Among the tests offered by Quest for the detection of the disease are ColoVantage and InSure.
"By extending our alliance with Quest Diagnostics, we will continue to transition Clinical Genomics' research of colorectal cancer gene targets into clinical testing services for the large underserved market of the Unites States and other countries," Clinical Genomics CEO Lawrence LaPointe said in a statement.