NEW YORK (360Dx) – Scoresby, Australia-based Sienna Cancer Diagnostics said today that it has entered an agreement that retains Axlab as its exclusive distribution partner for Denmark and Sweden.
The distribution agreement will broaden and accelerate the global roll out of its in-vitro diagnostic test, Sienna said. Under the terms of the agreement, Vedbaek, Denmark-based Axlab will sell Sienna’s product to pathology laboratories.
Sienna noted that it will work with Axlab to train its staff, establish inventory and supply logistics, and then assist it in establishing a reference laboratory within its target territory.
Additional terms of the agreement were not disclosed.
Sienna's in vitro diagnostic test detects the presence of the hTERT component of telomerase, a biomarker that aids in the diagnosis of bladder cancer alongside standard urine cytology testing.
Sienna’s CEO Matthew Hoskin said in a statement that he is confident that Axlab will be successful in achieving product penetration into "these important parts of the Nordic market." He noted that Axlab has "significant knowledge and capability in the areas of cytology and also in advanced staining, which is exactly where our test fits in the market.”
Sienna Business Development Manager Minesh Lalla said that Sienna has "many more countries" in its sights, and it hopes "to partner with equally capable distributors in each of them.”
The firm noted that the distribution agreement is its first since Sienna's listing on the Australian Securities Exchange in early August.