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Correlogic Systems signs agreements to license diagnostic test.(Quest Diagnostic Inc. and Laboratory Corporation of America Holdings sign agreement)
2002 DEC 12 - (NewsRx.com & NewsRx.net) -- Correlogic Systems, Inc., has signed licensing agreements with Quest Diagnostics Incorporated (DGX) and Laboratory Corporation of America Holdings (LabCorp) (LH) for the commercialization of Correlogic's ovarian cancer protein pattern blood test.
Quest Diagnostics and LabCorp are the only two companies licensed by Correlogic. Under the terms of the agreement, Correlogic will receive signing, milestone, and per-test royalty or service fees, as well as development fees for additional refinements to the technology. Additional terms were not disclosed.
"The difficulty of securing an early, accurate diagnosis has been one of the biggest obstacles to the successful treatment of ovarian cancer," said Peter J. Levine, president, and CEO of Correlogic. "Everyone involved in this effort has a common goal - saving lives. Our partnerships with Quest Diagnostics and LabCorp mark an important milestone toward this goal, moving breakthrough technology from the research stage to widespread public availability."
Correlogic's protein pattern blood test offers the prospect of accurate and early detection of ovarian cancer. In published research on a population of women who were at high risk for ovarian cancer, the test identified 100% of all ovarian cancers, including stage one ovarian cancer - the earliest and most curable stage.
The partnership with the nation's two premier clinical diagnostic labs combines Correlogic's breakthrough technology with the proven expertise of LabCorp and Quest Diagnostics in introducing and performing large-scale sophisticated ...
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Source: HighBeam Research, Correlogic Systems signs agreements to license diagnostic test.(Quest...