UK-based Oncimmune has signed a framework agreement with Genostics, a Chinese molecular diagnostics marketing and distribution firm, for an exclusive licence of its EarlyCDT platform designed for the early detection of cancer.

The agreement covers distribution, manufacturing and future development of products associated with the EarlyCDT platform in the People’s Republic of China.

The firms will initially focus on the EarlyCDT-Lung product, with plans to begin sale within 36 months of the date of the agreement, subject to approval from the China Food and Drug Administration (CFDA).

Genostics’ sister company GeneTech will carry out the manufacturing, marketing and distribution of EarlyCDT-Lung.

Under the terms of the agreement, Oncimmune is set to obtain minimum royalty payments of £15.7m on aggregate during the first six years after market entry.

“This deal means we can now offer early detection of cancer, which augments our product portfolio in our specialised area of pathology and oncology.”

The company will receive £10m investment from Genostics at a 49% premium, which is subject to the approval of shareholders.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Genostics chairman Dr Cheung To said: “This deal means we can now offer early detection of cancer, which augments our product portfolio in our specialised area of pathology and oncology.

“The EarlyCDT platform is complementary to our current molecular diagnostic product line, which uses the latest PCR, sequencing and microarray technologies and, by combining forces with Oncimmune, we will accelerate the technological and commercial development of the EarlyCDT platform, which will ultimately benefit more Chinese patients.”

Oncimmune and Genostics also intend to consider the transfer of manufacturing to China, along with further research and development to advance the EarlyCDT platform technology for new prevalent cancers.