GenMark Diagnostics Acquires License to HCV Genotyping Patent Estate
CARLSBAD, Calif., Nov 02, 2010 (BUSINESS WIRE) -- GenMark Diagnostics, Inc. (NASDAQ:GNMK), a provider of automated, multiplex molecular diagnostic testing systems, announced today that it has acquired a non-exclusive license to Innogenetics' Hepatitis C Virus (HCV) genotyping patent estate for the United States. The agreement includes an option to extend the license on a global basis. The financial terms of the license transaction were not disclosed.
Infectious disease testing is currently one of the largest commercial opportunities in molecular diagnostics. Laboratories with molecular diagnostic capabilities routinely perform infectious disease tests for Hepatitis C (HCV), Human Immunodeficiency Virus (HIV) and Human Papillomavirus (HPV). HCV genotyping is a guideline-supported test performed in combination with HCV screening and viral load testing, and today laboratories in the US currently have limited technology options to address their molecular testing needs in this area.
"We are very pleased to announce this licensing agreement with Innogenetics for the rights to its HCV genotyping patent estate," stated Chris Gleeson, Chairman and CEO of GenMark Diagnostics. "We believe that this license will allow us to enter a market that is ideally suited to our technology and will significantly increase the value of the XT-8 system for our customers."
"The addition of HCV genotyping to our test menu will likely accelerate GenMark's expansion into the largest molecular diagnostics laboratories in the United States," he added.
"We are pleased to have completed this licensing agreement with GenMark Diagnostics. The combination of our global HCV genotyping patent estate with GenMark's leading technology platform will provide additional testing options for physicians and patients, and further demonstrates our continuing commitment to leadership in infectious disease testing," stated Christiaan De Wilde, CEO of Innogenetics.
About GenMark Diagnostics, Inc.
GenMark Diagnostics, Inc., a provider of automated, multiplex molecular diagnostic testing systems, detects and measures DNA and RNA targets to diagnose disease and to optimize the treatment of patients and is focused on developing and commercializing its eSensor detection technology. GenMark's XT-8 System is designed to support a broad range of molecular diagnostic tests with a compact and easy-to-use workstation and self-contained, disposable test cartridges. GenMark has developed five diagnostic tests for use with the XT-8 System, including its Cystic Fibrosis Genotyping Test, Warfarin Sensitivity Test and Thrombophilia Risk Test which have received clearance from the Food and Drug Administration. www.GenMarkDx.com.
About Innogenetics, NV:
Innogenetics NV is an international biotechnology company headquartered in Ghent, Belgium that develops and markets diagnostic products to improve therapy management and patient health.
Innogenetics develops and markets a range of diagnostic assays in the field of infectious diseases, genetic testing, transplantation, neuro-degeneration and oncology, with a focus on molecular diagnostics and multiparameter testing. Its products are sold in over 90 countries through its 6 subsidiaries and a large number of distributors and it has in excess of 3,700 customers. Innogenetics is a Fujirebio Inc company, part of Miraca Holdings Inc. (ticker code 4544, Tokyo Stock Exchange, First Section).
SOURCE: GenMark Diagnostics, Inc.
GenMark Diagnostics, Inc.
Steven Kemper, Chief Financial Officer
Philippe GRANDJEAN, Global Marketing & Business Development Director
Tel: + 329 329 13 29
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