HDC in deals with Abbott and Quest for prostate cancer test
This article was originally published in Clinica
Executive Summary
Health Discovery Corporation (HDC) has struck two deals to out-license its cancer detection technology to leading players in the diagnostics market. Quest Diagnostics has acquired rights from HDC to develop and commercialise a noninvasive urine-based test for the detection of clinically-significant prostate cancer. In return, Quest will make payments, royalties and additional undisclosed financial considerations to Savannah, Georgia-based HDC. In a separate deal, Abbott has gained co-exclusive clinical laboratory rights and exclusive in vitro diagnostic rights for the commercialisation of HDC’s tissue-based and urine-based tests for prostate cancer. Exact financial details of both deals were not disclosed. According to the American Cancer Society, there were around 186,320 new cases of prostate cancer in the US in 2008 and approximately 28,660 men will die of the disease in 2009.
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