NEW YORK (GenomeWeb News) – GeneNews today said that it has signed a memorandum of understanding with Shanghai Biochip to establish a Sentinel Centre for Personalized Medicine in China.
The partners plan to co-develop and commercialize products based on GeneNews' Sentinel Principle platform. The MOU sets the terms for development, distribution, and licensing to be covered under a definitive agreement. Under those terms, Shanghai Biochip would receive non-exclusive rights to sell GeneNews' ColonSentry test, a gene expression assay for colorectal cancer, in China.
The firms expect to execute a formal agreement before the end of the third quarter. Financial and further terms of the agreement were not disclosed.
"Shanghai Biochip's expertise in gene expression profiling platforms and well-established clinical network provide a strong foundation for us to jointly establish a state-of-the-art research and development core capability in China that is aligned with our pipeline development and commercialization objectives," Gailina Liew, president and COO of GeneNews, said in a statement.