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Transgenomic Acquires Rights to Scoliosis Prognostic Test

NEW YORK (GenomeWeb News) - Transgenomic today said that it has signed a definitive agreement to acquire the global rights to a multi-gene prognostic test for scoliosis from Axial Biotech.

The Omaha, Neb.-based molecular diagnostics firm bought the rights to Axial's ScoliScore Adolescent Idiopathic Scoliosis (AIS) Prognostic Test for $4.4 million in cash. The clinically validated and commercially available test uses saliva as a sample to look for multiple genes that provide a "highly accurate" assessment of the likelihood of spinal curve progression for children diagnosed with AIS, said Transgenomic.

"The ScoliScore Test identifies, with a high degree of accuracy, those individuals who are unlikely to progress to a point where surgery is needed, which can significantly reduce their radiation exposure from repeated x-ray monitoring," Transgenomic CEO Craig Tuttle said in a statement.

He noted that he expects the test to contribute positively to the firm's earnings by the end of 2012, excluding any acquisition related charges.

The firms did not disclose sales figures for the test, but Transgenomic said that it provides access to a market estimated at 400,000 patients in the US.