Transgenomic Announces Leading Clinical Laboratory Services Provider LifeLabs Selects ICE COLD-PCR as Its Mutation Enrichment...
January 12 2017 - 7:30AM
Business Wire
Three-Year Renewable Agreement Also Includes
Non-Exclusive License to ICP in Canada
New Patent Has Issued Covering ICE COLD-PCR
Technology in Canada
Transgenomic, Inc. (TBIO) (NASDAQ: TBIO), today announced a
licensing agreement with leading Canadian laboratory services
provider LifeLabs, which has selected Transgenomic’s ICE COLD-PCR
(ICP) technology as its mutation enrichment platform for cancer
testing. The three-year, renewable agreement includes a
non-exclusive license to the ICP technology in Canada. Separately,
Transgenomic also announced issuance of a new Canadian patent for
ICP.
“LifeLabs is among the largest laboratory service providers in
North America, and we view their adoption of ICE COLD-PCR as a key
validation of both the technology and our commercial model that
focuses on licensing to a wide variety of molecular diagnostics
partners worldwide,” commented Paul Kinnon, President and Chief
Executive Officer of Transgenomic. “We believe that this sizable
commercial licensing agreement is indicative of the growing
traction in the marketplace we have been anticipating, and we
believe that it will be followed by additional significant ICP
agreements going forward.”
LifeLabs intends to use ICE COLD-PCR with tissue samples and is
receiving a non-exclusive license to the ICP technology in Canada.
The three-year renewable agreement also allows LifeLabs to benefit
from technology improvements and additional product launches during
its term.
“As the largest laboratory service provider in Canada, LifeLabs
is committed to offering our customers access to advanced clinical
genomic analyses made possible by major new technologies such as
ICE COLD-PCR,” said Joby McKenzie, Senior Vice President, Business
Development of LifeLabs. “We anticipate that this flexible,
versatile mutation enrichment technology will be applied to other
molecular testing applications as adoption of genomic and precision
medicine expands.”
Recently-issued Canadian Patent No. 2792433, Full Cold-PCR
Enrichment with Reference Blocking Sequence, covers the use of the
ICE COLD-PCR method that enriches mutated DNA sequences in a
background of normal DNA through to 2030. This method can be
applied to the analysis of very low quantities of circulating tumor
DNA found in a patient’s blood.
Transgenomic’s ICE COLD-PCR technology delivers up to a 500-fold
increase in mutation detection compared to most current methods,
with levels of detection routinely achievable down to 0.01%. This
ultra-high sensitivity enables detection of low level mutations
that allow accurate patient monitoring as well as stratification of
cancer sub-populations. ICP works well with most patient samples,
including tissue, blood, plasma, urine and other biofluids and it
is compatible with most of the downstream genomic analytic
platforms commonly available in laboratories today.
ICE COLD-PCR was originally developed by the laboratory of Dr.
Mike Makrigiorgos at the Dana-Farber Cancer Institute, which has
exclusively licensed worldwide rights to the technology to
Transgenomic.
About LifeLabsLifeLabs is a Canadian-owned company with
over 50 years of experience providing laboratory testing services
to help health care providers diagnose, treat, monitor and prevent
disease in patients. In communities across British Columbia and
Ontario, LifeLabs delivers cost-effective, convenient access to
laboratory testing services essential for optimal outcomes in
health care. LifeLabs employs over 5,000 professionally trained
staff and delivers over 100 million laboratory tests, supporting
over 19 million patient visits annually. In 2013, LifeLabs acquired
BC Biomedical in British Columbia and CML HealthCare in Ontario,
making LifeLabs the largest community laboratory in Canada.
LifeLabs is indirectly owned by OMERS Administration Corporation,
whose interest is managed by Borealis Infrastructure.
About TransgenomicTransgenomic, Inc. is a global
biotechnology company advancing personalized medicine in oncology
and inherited diseases through advanced diagnostic technologies,
such as its revolutionary ICE COLD-PCR, which enables use of liquid
biopsies for mutation detection. The company also provides
specialized clinical and research services to biopharmaceutical
companies developing targeted therapies. Transgenomic’s diagnostic
technologies are designed to improve medical diagnoses and patient
outcomes.
Forward-Looking StatementsCertain statements in this
press release constitute “forward-looking statements” of
Transgenomic within the meaning of the Private Securities
Litigation Reform Act of 1995, which involve known and unknown
risks, uncertainties and other factors that may cause actual
results to be materially different from any future results,
performance or achievements expressed or implied by such
statements. Forward-looking statements include, but are not limited
to, those with respect to management's current views and estimates
of future economic circumstances, industry conditions, company
performance and financial results, including the ability of the
Company to grow its involvement in the diagnostic products and
services markets, expectations regarding new clients, projects and
prospects, and MX-ICP’s ability to accelerate the Company’s growth
and generate revenue. The known risks, uncertainties and other
factors affecting these forward-looking statements are described
from time to time in Transgenomic's filings with the Securities and
Exchange Commission. Any change in such factors, risks and
uncertainties may cause the actual results, events and performance
to differ materially from those referred to in such statements.
Accordingly, the Company claims the protection of the safe harbor
for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995 with respect to all statements
contained in this press release. All information in this press
release is as of the date of the release and Transgenomic does not
undertake any duty to update this information, including any
forward-looking statements, unless required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170112005124/en/
Media:BLL PartnersBarbara Lindheim,
212-584-2276blindheim@bllbiopartners.comorInvestors:Transgenomic
Investor Relationsinvestor.relations@transgenomic.com
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