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Biodesix Inks $38M Veristrat Collaboration Deal with Chinese Firm Bioyong

NEW YORK (GenomeWeb) – Biodesix said today it has entered a collaboration agreement with Chinese life sciences firm Bioyong Technology to develop and commercialize Biodesix's Veristrat test for clinical use in China.

Under the agreement, Bioyong will invest in test development as well as clinical validation, regulatory approval, and commercialization in China and, potentially, other Asia-Pacific countries. Veristrat, Biodesix's flagship product, is a blood-based proteomic test for assessing patient prognosis and predicting response to drug treatment in advanced non-small cell lung cancer.

The companies will also collaborate on developing additional MALDI mass spec tests in oncology and other disease areas. Bioyong plans to run the test on its Clin-TOF MALDI mass spec platform.

Bioyong will pay Biodesix around $38 million over the course of the collaboration, the firms said.