Flatlined may be taking it a little too far ....
Aug. 24 /PRNewswire/ -- Genzyme Molecular Oncology (Nasdaq: GZMO - news) today announced it has licensed to Myriad Genetics, Inc. (Nasdaq: MYGN - news) non-exclusive access to its cancer diagnostic patent rights related to an undisclosed gene implicated in hereditary colon cancer.
In September 2000, Myriad plans to launch a predictive medicine test for hereditary colon cancer called COLARIS(TM) that detects mutations in this gene and an additional gene that is not part of the license agreement. Mutations in either gene, in conjunction with a family history of colon cancer, indicate increased risk for developing the disease. Additionally, the same mutations also substantially increase a woman's risk of endometrial cancer.
Under the license agreement, Genzyme Molecular Oncology received from Myriad an up-front payment and will receive royalties on each COLARIS test performed. Further financial details were not disclosed.
``This agreement is evidence of the continued value of Genzyme Molecular Oncology's intellectual property in expanding our diagnostic licensee base, which already includes Affymetrix, LabCorp, and EXACT Laboratories,'' said Gail Maderis, president, Genzyme Molecular Oncology. ``As additional data from the Human Genome Project is analyzed and as more molecular therapeutics reach clinical and commercial development, we expect the interest in cancer diagnostics to continue to grow.''
Myriad has stated that its COLARIS test will provide the same high standard quality to researchers and clinicians for colon and endometrial cancer that has previously been achieved in breast and ovarian cancer with Myriad's BRACAnalysis® test. Myriad has announced that it will begin accepting samples for testing with COLARIS nationwide next month.
Genzyme Molecular Oncology has an extensive portfolio of intellectual property related to cancer gene diagnostics based on the work of its collaborators, Drs. Kenneth Kinzler and Bert Vogelstein at The Johns Hopkins University. Genzyme Molecular Oncology is out-licensing its diagnostic rights to generate funds to help support its internal cancer therapeutic development efforts. |
