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OncoMethylome Sciences Signs Commercial Agreement with Laboratory Corporation of America for Colorectal Cancer Testing

24 Jun 2008 - OncoMethylome Sciences announced that it entered into a supply agreement with Laboratory Corporation of America® Holdings (LabCorp®). OncoMethylome agreed to sell reagents to LabCorp for detecting methylation of the Vimentin DNA marker with Methylation-Specific PCR (MSP). LabCorp plans to initially use the reagents for laboratory-developed, stool-based testing in North America that would serve as an option for traditionally non-compliant patients recommended for colorectal cancer screening. Under terms of the agreement, OncoMethylome will earn revenue for supplying the reagents and will also qualify for milestones tied to commercial use of the reagents by LabCorp.
 
"We are happy to make our methylation technology available to LabCorp for stool-based colorectal cancer testing. LabCorp's broad presence in North America and its leadership role in bringing novel screening services to the market, make it an attractive partner for OncoMethylome. Colorectal cancer can be treated effectively if diagnosed early; therefore, making our technology widely available for colorectal cancer screening purposes is of utmost importance" commented Herman Spolders, CEO of OncoMethylome.