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OncoMethylome Sciences SA to Initiate a Large Colorectal Cancer Clinical Trial
OncoMethylome Sciences to Acquire Minority Interest in Signature Diagnostics AG

31 Jan 2008 - OncoMethylome Sciences announced that it plans to launch a large, international, multi-center colorectal cancer clinical trial. The German portion of the international trial will be managed by Signatures Diagnostics. Signature Diagnostics will receive an upfront payment plus service fees for its contribution to the clinical trial. In addition, both companies also agreed that OncoMethylome Sciences will obtain first negotiation rights on a test in development by Signature Diagnostics for predicting outcomes in colorectal cancer patients. Subject to certain conditions that are standard for this type of transactions, OncoMethylome Sciences also agreed to acquire a minority interest in Signature Diagnostics. Additional details and financial terms of the agreement were not disclosed.