Mutation in colorectal cancer samples

The assay will be used for the detection of specific mutations in colorectal cancer samples to select patients for the partner’s therapeutic monoclonal antibody.

Under the agreement Lab21 will use its molecular diagnostic development resource and proprietary SPARQ™ PCR technology together with its expertise in the oncology diagnostic market to develop, manufacture and distribute the assay.

In addition, the Company will provide specific sample analysis service from its accredited laboratory in Cambridge, UK on behalf of the partner.

Lab21 expects to launch the product during the current year under the Onconostica^TM brand name and is expected to be the first of a pipe-line of new companion diagnostic assays.

Financial details of the agreement were not disclosed.