AsianScientist (Feb. 13, 2012) – Canadian molecular diagnostics company GeneNews Limited has signed a memorandum of understanding with Shanghai Biochip Co. Ltd. to establish the first Sentinel Center for Personalized Medicine in China.
The center, jointly established and maintained by GeneNews and SBC, aims to advance the development and commercialization of innovative, non-invasive tests targeted at early disease detection in China.
It will co-develop and commercialize additional products based on GeneNews’ proprietary platform technology, the Sentinel Principle®, which uses a simple blood sample to diagnose medical conditions.
In addition, SBC would obtain non-exclusive rights to market and sell GeneNews’ ColonSentry™ test in China.
A formal agreement will be negotiated and executed before the end of the Company’s third fiscal quarter. Financial terms were not disclosed.
“Shanghai Biochip’s expertise in gene expression profiling platforms and well-established clinical network provide a strong foundation for us to jointly establish a state-of-the-art research and development core capability in China that is aligned with our pipeline development and commercialization objectives,” said Gailina J. Liew, President & COO of GeneNews.
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Source: GeneNews.
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