Biofield to market ValiRx cancer diagnostics worldwide
This article was originally published in Clinica
Cancer therapeutics firm ValiRx (London, UK) is set to take its diagnostic tests to the worldwide market, through the partnership of its Belgium-based cancer diagnostics subsidiary ValiBio with medtech company Biofield. Philadelphia, Pennsylvania-based Biofield has gained exclusive worldwide distribution rights to ValiBio’s human papilloma virus (HPV) diagnostic test for cervical cancer, and non-exclusive global rights (excluding Belgium) to its Hypergenomics and Nucleosomics cancer diagnostic products. As part of the agreement, Biofield has bought a 10% stake in ValiBio for €600,000 ($819,000) in cash and has an option to secure an additional 15% holding. According to ValiRx, the global market for HPV testing is currently worth around $250m and is predicted to reach $1bn should it replace conventional cervical cancer testing methods.