Researchers at NJIT have initially tested their biochip for the detection of early-stage ovarian cancer, but they said it could have use for other cancers and diseases.
About £3.7 million ($4.9 million) of proceeds from the placement would go toward the acquisition, while remaining funds will support assay development validation, and working capital.
The companies will validate and commercialize the assay as a companion diagnostic to identify best responders to Morphotek's investigational ovarian cancer treatment.
The agreement is to support the company’s analytical and preanalytical research and assist in its trials aimed at a number of cancers.
The group that advises primary care clinicians found evidence that false-positive screening results could lead to surgical interventions in asymptomatic patients.
NGeneBio is moving ahead with plans to have the test cleared for diagnostic use in Korea, while envisioning a 2019 submission to the US FDA.
The Korean molecular diagnostics startup is planning to launch the new offering in Europe, as well as China and other Southeast Asian countries.
The BRCA Mastr Plus Dx assay and Mastr Reporter software identifies mutations in the coding regions of the BRCA1 and BRCA2 genes
Myriad said it will submit a supplementary premarket approval application for its BRACAnalysis CDx, which the FDA originally approved in 2014.
They have also developed an exosome-based test for high volume laboratory applications that was recently licensed by Exosome Diagnostics.