Circadian Technologies Limited (CIR) and Healthscope Limited (HSP) announced that they have signed an agreement to commercialise a novel diagnostic technology for so-called “Cancers of Unknown Primaries” – a challenging form of cancer in which the site of origin of a tumour cannot be identified using standard techniques.
The diagnostic method was developed in collaboration between Circadian and the Peter MacCallum Cancer Centre, a leading specialty cancer hospital and research institute in Australia. Under the terms of the agreement, Healthscope, through its subsidiary, Clinical Laboratories Pty Ltd, will further develop, clinically validate and market the test throughout Australia, New Zealand, Malaysia and Singapore. Circadian will retain rights to market the test in the remainder of the world.
Healthscope will pay Circadian an upfront fee, development milestones and a royalty on sales of the test. Circadian, through its wholly owned subsidiary
Cancer Therapeutics Limited, owns exclusive worldwide rights to the test through a licensing arrangement with the Peter MacCallum Cancer Centre.
The Cancers of Unknown Primaries (CUP) diagnostic methodology identifies a patient’s tumour type by comparing its pattern of gene expression to a database of known tumours. By correctly identifying a patient’s tumour type, clinicians can develop a more effective treatment strategy for the cancer.
http://www.healthscope.com.au/info/general/Content/get/228/itemId/
