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Novigenix, Philips Ink Technology License Agreement for Prostate Cancer Tests

NEW YORK – Precision oncology company Novigenix said on Wednesday that it has signed a technology license agreement with Royal Philips for prostate cancer tests. 

Under the agreement, Novigenix will have access to Philips' technology on tumor-derived immuno-transcriptomic signatures to develop and launch commercial products for prostate cancer. The products "will provide actionable information to help oncologists with treatment decisions of high-risk patients," the firm added.

Financial and other terms of the deal were not disclosed. 

Novigenix has previously used its Liquid Immuno-Transcriptomic Sequencing (LITOseek) platform to develop tests for colorectal and bladder cancer, according to Executive Chairman Brian Hashemi. The platform enables the analysis of disease-specific mRNA signatures of immune cells, induced by the host immune response to triggers, such as the onset of cancer. It combines that analysis with machine learning and predictive algorithms to "provide new insights into onset and progression of disease," the company said.