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News and reporting on lung cancer.
The firms have eliminated several terms of their original deal and have cross-licensed IP to allow Med BioGene to license Gene FX Lung to other firms.
The arrangement allows Perthera to expand the scope of its molecular profiling work while helping the LCA provide more patients access to such testing.
The companies discussed their plans to change the one-test, one-drug companion diagnostic paradigm at the Personalized and Precision Medicine conference this week.
A recent draft local coverage determination from Medicare contractor Noridian is one step along a growth path, according to Veracyte's CEO.
The firm expects the final LCD will go into effect around the beginning of next year, and that three remaining Medicare contractors will soon post draft LCDs for its test.
Assessments of the firm's rapid molecular BRAF and EGFR tests by researchers in Italy and South Korea showed high sensitivity and a fast turnaround time.
The company recently closed a $7 million funding round and added to its executive team as it aims for a 2017 launch for its test.
The company has received grant funding for diagnostic development projects, and is also seeking its first pharma service customers to provide nearer-term revenue.
The company is working on a number of new sales deals after its biggest distributor, Health Diagnostics Laboratory, filed for bankruptcy last year.
The study found that with use of the mass spec-based test, about a third of surgeries and total invasive procedures, including biopsies, could be avoided.