NEW YORK (360Dx) — Sienna Cancer Diagnostics said today that it has signed on Shaanxi GaoYuan In Vitro Diagnostic Reagents as its exclusive distribution partner in mainland China.
Under the terms of the deal, GaoYuan has the exclusive right to sell Sienna's in vitro diagnostic for the detection of the hTERT component of telomerase, a biomarker that aids in the diagnosis of bladder cancer alongside standard urine cytology testing, in that market.
GaoYuan will be in charge of securing regulatory approval for the test in China, with Sienna providing it with sales, marketing, and technical training ahead of the product's market launch.
Additional terms were not disclosed.
"We have been very deliberate in selecting a partner which has the adequate size, reach, and capability to penetrate the Chinese market effectively, but also one that regards Sienna's test as a real growth opportunity for the company and will put strong promotional support behind our product," Sienna CEO Matthew Hoskin said in a statement.
Last month, Melbourne, Australia-based Sienna closed a A$5.2 million ($3.9 million) private placement and rights issue.