PerkinElmer Signs Commercialization Collaboration with Transgenomic for Oncology Diagnostic Test Portfolio
PerkinElmer, Inc., a global leader focused on improving the health and safety of people and the environment and Transgenomic, Inc., a global biotechnology company advancing personalized medicine in cardiology, oncology, and inherited diseases through diagnostic tests as well as clinical and research services, today announced a collaboration agreement to market and distribute Transgenomic's oncology diagnostic test portfolio of products in territories outside the United States.
Under the terms of the agreement, effective January 1, 2014, PerkinElmer will have the non-exclusive right to begin sales, marketing, distribution and field service activities on a worldwide basis (excluding US) for Transgenomic's line of molecular diagnostic oncology products, including CRC RAScan™ and ACE™ kits, for use on the PerkinElmer LabChip® MultiDx platform. The CRC RAScan™ provides a single kit solution for detecting KRAS and NRAS genetic mutations that are highly relevant when considering administration of select EGFR inhibitor therapies associated with metastatic colorectal cancer. The initial launch will be in Europe and financial terms of the agreement were not disclosed.
"Molecular diagnostics are an integral and rapidly growing component of oncology care," said Steve Wallace, Vice President, Molecular Diagnostics at PerkinElmer. "Transgenomic's platform, technology and research collaborations place them at the forefront of innovation both for their marketed tests as well as their robust product pipeline. We look forward to providing customers a complete testing solution including DNA extraction, oncology diagnostic assays and high performance microfluidics instrumentation."
"PerkinElmer is a leading global life science company with a strong reach throughout the clinical diagnostics market," said Paul Kinnon, President and Chief Executive Officer of Transgenomic. "They are the ideal commercial collaborator for our oncology genetic testing portfolio outside of the US. This portfolio addresses a growing breadth of genetic markers important to assessing risk, prognosis and treatment of a variety of cancers."
Mr. Kinnon continued: "This collaboration also highlights our strategy, which aims to optimize through, channel collaborations, the commercial potential of Transgenomic assets aimed at large genetic testing markets. Doing so allows us to focus resources on our areas of strength, including sales of our instrument lines outside of the US, marketing tests for rare genetic disorders, where we are a leader in the US, and developing tests and companion diagnostics using proprietary technology that is unequalled in the identification and detection of low-level mutations."
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on improving the health and safety of people and the environment. The company reported revenue of approximately $2.1 billion in 2012, has about 7,500 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
About Transgenomic, Inc.
Transgenomic, Inc. is a global biotechnology company advancing personalized medicine in cardiology, oncology, and inherited diseases. The Company has three complementary business divisions: Clinical Laboratories, Pharmacogenomic Services and Diagnostic Tools, which provide specialized diagnostic tests, contract research services for drug development, and equipment, reagents and other consumables for clinical and research applications in molecular testing and cytogenetics.
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Edelman (on behalf of PerkinElmer)