Cancer Genetics announced on Thursday that it has partnered with China-based Genecast Biotechnology to market, distribute and sell the Tissue of Origin test in China.
The TOO test helps identify uncertainties in solid tumors; by analyzing a patient’s RNA profile, it gives results for the physician to rule out other types of tumors. The physicians can use the test for multiple reasons, including if the tumor is too small for other tests or the patient has a history of multiple cancers, among other reasons.
It assesses 2,000 genes to cover 15 of the most common types of tumors and close to all solid tumors. These include: thyroid, breast, non-small cell lung, pancreatic, gastric, colorectal, liver, bladder, kidney, non-Hodgkin’s lymphoma, melanoma, ovarian, sarcoma, testicular germ cell, and prostate.
“We are excited to make this test available to cancer patients in China through Genecast’s proven distribution capabilities in the space,” John Roberts, CEO of Cancer Genetics, said in the press release. “This collaboration is in line with our business transformation strategy of driving sustainable, long-term growth and profitability by leveraging our unique assets.”
As a result of the TOO test, 65 percent of patients changed treatment for their cancer. There is also the TOO Endometrial and Head and Neck specific version. Altogether, the three tests cover close to 5,000 genes and 17 tissue types, which covers 95 percent of all solid tumors.
Du Bo, CEO of Genecast, shared similar sentiments to Roberts and said, “the focus of this collaboration is to unlock the commercial opportunity of the TOO test in China while providing access to a broader cancer patient population and potentially improving clinical outcomes.”
NovellusDx, which is set to merge with Cancer Genetics, is also participating in this partnership and may be deemed participants “in the solicitation of proxies” as it relates to its transaction with Cancer Genetics.
In addition to the TOO test, Cancer Genetics has developed a wide range of oncology biomarkers and molecular testing to promote the use of precision medicine. Aside from its clinical testing, it has products available for pharmacogenomic testing and laboratory services.
Genecast markets a full line of oncology genetic diagnostic tests in China for patients and medical professionals. The company works with global biotech and pharmaceutical companies to confirm biomarkers for clinical trials and treatment while developing companion diagnostics.
Cancer Genetics’ share price increased over six percent on Thursday, moving its share price to US$0.86.
TipRanks shows no analysts have issued notes to investors on Thursday, but Jason McCarthy maintained a “Hold” rating on the company with its news of a partnership with Cellaria on October 8.
Investors should hear more about this partnership with Genecast for the TOO tests on Cancer Genetics’ site. As a reminder, NovellusDx and Cancer Genetics merger is expected to close in Q1 2019.
Don’t forget to follow @INN_LifeScience for real-time updates!
Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.