NEW YORK (GenomeWeb News) – BioMarCare and Ariadne will use a $900,000 grant to develop a protein biomarker-based pharmacogenomic test for predicting which metastatic colorectal cancer patients would respond to treatment.
The companies won the grant from the Binational Industrial Research and Development Foundation (BIRD), said BioMarCare's parent company Hadasit Bio-Holdings, a portfolio of biotech firms based on intellectual property developed and owned by Hadassah University.
Hadasit said that the grant will be matched by company funds and that it will be repaid through royalty payments from test sales. BioMarCare and Ariadne are currently finalizing their collaboration agreement and then will finalize an agreement with the BIRD foundation.
The test would enable doctors to detect which patients will not respond to treatment before it is administered, which would allow for a more effective and personalized course of treatment earlier in the course of the disease.
BioMarCare's CEO, Dana Cohen, in a statement said that the diagnostic test "will reduce ineffective treatment of patients and excessive costs to the healthcare system," and that it will "extend the company's reach to the US market and may be the basis for developing additional tests to guide treatment of cancer in the future."