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Epigenomics Terminates BioChain Licensing Deal; Provides 2019 Revenue Outlook

NEW YORK (GenomeWeb) – Epigenomics of Germany said today that it has terminated its collaboration with China's BioChain for the licensing of the Septin9 marker and exclusive Chinese distribution rights for Epi proColon, Epigenomics' blood test for colorectal cancer.

Berlin-based Epigenomics originally announced the licensing deal with BioChain in March 2016. It is now exercising its contractual right to terminate the agreement when BioChain did not pay Epigenomics more than the agreed minimum royalties over a three-year period.

Epigenomics said that it will evaluate options for the distribution of Septin9 in China.

The firm also provided its financial outlook for 2019, noting that it expects revenues of €3.0 million to €6.0 million ($3.4 million to $6.8 million) compared to €1.5 million in 2018 based on preliminary, unaudited numbers. The anticipated revenue increase is expected to be driven by the new Medicare reimbursement rate of $192 per Epi proColon test, the company said. Licensing revenue from the Chinese market is not included in the company's 2019 outlook.