NEW HAVEN, Conn., Jan. 21 /PRNewswire-FirstCall/ -- Genaissance Pharmaceuticals, Inc. (Nasdaq: GNSC - News) announced today that it has entered into a collaboration with the Diagnostics Division of Bayer HealthCare LLC, a member of the Bayer Group (NYSE: BAY - News), to identify pharmacogenomic markers of drug safety and efficacy. Under the terms of the agreement, each party will contribute portions of intellectual property derived from its respective programs. Genaissance will receive funding to apply its HAP(TM) Technology to Bayer's clinical samples. Bayer will receive exclusive rights to develop and market diagnostic tests based on the results of the collaboration. Genaissance will receive royalties and rights to perform these diagnostic tests in Genaissance's CLIA-certified diagnostic laboratory. There are mutual royalty provisions for any pharmaceutical drugs derived from the cooperation.
"We are pleased to enter into an agreement with Bayer, as a further step in commercializing our unique technology," said Kevin Rakin, President and CEO of Genaissance. "In working with Bayer, we have a partner that is well positioned to commercialize diagnostic tests stemming from this research collaboration. It is also a unique opportunity for Genaissance to utilize these markers for drug development efforts -- internally as well as with current and future pharmaceutical partners."
The collaboration will be based upon the pharmacogenomics research undertaken by Genaissance and by Bayer. Both parties contribute intellectual property to the collaboration. The goal of the collaboration is to use this pharmacogenomics intellectual property in combination with Genaissance's HAP(TM) Technology to develop diagnostic tests that determine adverse drug response and efficacy response to existing drug classes as well as to newly developed drug products.
"Bayer Diagnostics is very pleased to be working with Genaissance, to utilize Genaissance's haplotype technology for identification of diagnostic markers and therapeutic targets for individualized medicine," said Dr. William Wallen, Senior Vice President of Research at Bayer Diagnostics. "We view the collaboration as a unique opportunity to combine their pharmacogenomics expertise and our marker identification efforts to develop diagnostic tests that will ensure that therapeutic products deliver the maximum benefit to all patients.".... |
