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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (1852)	12/6/2001 11:58:43 AM
From: nigel bates	Read Replies (1) \| Respond to of 3202

diaDexus Grants License to Quest Diagnostics for Novel Genomics-Based Colorectal Cancer Diagnostic Test SOUTH SAN FRANCISCO, Calif. and TETERBORO, N.J., Dec. 6 /PRNewswire/ -- diaDexus, Inc., a privately-held biotechnology company, and Quest Diagnostics Incorporated (NYSE: DGX - news), the nation's leading provider of gene-based medical testing, announced today that diaDexus has licensed its novel proprietary genomics-based diagnostic test for the non-invasive detection of colorectal cancer to Quest Diagnostics. Quest Diagnostics is exercising its option and has obtained exclusive rights to develop and commercialize the colorectal cancer test in its laboratory facilities in the United States and certain international territories. Under the terms of this license, diaDexus will receive an upfront licensing fee and royalties on future sales, and retain rights to develop a test for certain markets in the future. ``The licenses we have granted to Quest Diagnostics, which so far include this colorectal cancer test in addition to the Cathepsin-K test for osteoporosis, represent an important milestone for diaDexus as we transform our genomics-based discoveries into potentially valuable diagnostic products,'' said Ronald M. Lindsay, Ph.D., Chief Scientific Officer of diaDexus. ``Colorectal cancer can be cured or managed successfully if it is diagnosed early enough. This novel technology has the potential to facilitate early diagnosis through a simple blood test rather than the more invasive methods used today, such as colonoscopy.'' The test detects Reg-4, a protein that has been implicated as a critical component of colorectal carcinogenesis. This assay could potentially be an important non-invasive tool in the early detection of colorectal cancer, and collaborative studies are planned to validate its clinical utility. ``This colorectal cancer test is a result of our strong working relationship with diaDexus,'' said Lucia L. Quinn, Senior Vice President for Advanced Diagnostics at Quest Diagnostics. ``We are collaborating to use genomics and proteomics tools to provide vital diagnostic information earlier and more easily than ever before.'' Colorectal cancer is the third most-diagnosed cancer in the United States and Canada, and the second leading cause of cancer death among men and women after lung cancer. The American Cancer Society estimates that about 135,000 new cases of colorectal cancer are diagnosed in the United States each year and about 57,000 people die from the disease. About diaDexus diaDexus, based in South San Francisco, California, is focused on translating genomic sequence data into novel diagnostic and therapeutic products. diaDexus has utilized genomics and bioinformatics to identify thousands of disease-associated molecular targets. Currently diaDexus has three diagnostic product candidates in late-stage pre-clinical development. For more information, please visit www.diadexus.com.