Biodesix® and Bioyong Announce Agreement for Joint Development and Commercialization of VeriStrat® Test in Greater China
January 09, 2017 at 07:30 pm IST
Share
Biodesix, Inc. and Bioyong Technology Company Ltd. announced that they have entered into an international collaboration agreement where Bioyong will develop and commercialize a version of Biodesix’s VeriStrat® proteomic blood test, a precision medicine diagnostic for patients with non-small cell lung cancer (NSCLC), for clinical use in Greater China, with potential expansion into other Asia-Pacific countries. Bioyong will perform their version of the VeriStrat® test on their Clin-TOF matrix assisted laser desorption and ionization (MALDI) mass spectrometry platform. The two companies will also collaborate on the development of new mass spectrometry-based assays in oncology and other clinical areas. The collaboration calls for significant technology transfer of Biodesix’s proprietary MALDI methods and the development of their commercial tests in greater China. Bioyong will make investments in the development, clinical validation, regulatory approval, and commercialization of a version of the VeriStrat® test in their territory. The parties will collaborate on advancing the use of MALDI for clinical use. Bioyong will pay Biodesix approximately $38 million over the life of the collaboration.
Biodesix, Inc. (Biodesix) is a diagnostic solutions and services company. The Company develops diagnostic tests addressing clinical questions by combining multi-omics through the power of artificial intelligence. Biodesix offers over five Medicare-covered tests for patients with lung diseases. The blood based Nodify Lung Nodule Risk Assessment testing strategy, consisting of the Nodify XL2 and the Nodify CDT tests, evaluates the risk of malignancy in incidental pulmonary nodules, enabling physicians to better triage patients to the appropriate course of action. The blood based IQLung strategy for lung cancer patients integrates the GeneStrat targeted ddPCR test, the GeneStrat NGS test and the VeriStrat test to support treatment decisions across all stages of lung cancer. Biodesix also leverages the advanced Diagnostic Cortex artificial intelligence (AI) platform, to collaborate with biotechnology and pharmaceutical companies to solve complex diagnostic challenges in lung disease.