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Med BioGene Announces Collaboration to Develop Genetic Biomarkers for Lymphoma and Leukemia

21 Mar 2007 - Med BioGene Inc. announced that it has entered into a research collaboration and option agreement with Duke University to further develop and validate MBI's genetic biomarkers for lymphoma and leukemia using its Gene Expression Profiling SystemTM.
 
The collaboration between MBI and Duke includes, among other things, the following terms: Duke will provide to MBI a certain number of samples from patients with clinically confirmed lymphoma and leukemia for genetic analysis by MBI using its Gene Expression Profiling SystemTM; MBI and Duke will collaborate on the further analysis of those results; Duke grants to MBI an option to acquire exclusive world-wide licensing rights to the intellectual property developed by Duke under the collaboration; MBI will pay to Duke certain royalties on revenue received from the commercialization of the intellectual property developed under the collaboration; Duke will be entitled to publish the results of the collaboration, subject to review and comment by MBI; and MBI will reimburse Duke for certain expenditures incurred under the collaboration. Initiation of the research to be conducted under the collaboration is subject to receipt by the parties of all relevant institutional review board approvals.
 
"This collaboration further demonstrates Med BioGene's focus and commitment to rapidly develop a novel tool using microarray analysis for disease diagnosis and prognosis and therapeutic development. We expect our Gene Expression Profiling SystemTM to be more accurate, faster and more cost effective than current methods of diagnosing lymphoma and leukemia. Furthermore, the development of these biomarkers is the first step towards personalized medicine and is intended to replace the conventional 'one drug fits all' approach to disease management", explained Mr. Erinn Broshko, Chief Executive Officer of MBI.