Response Genetics Signs Agreement with GlaxoSmithKline to Provide Proprietary BRAF Mutational Analysis Technology
LOS ANGELES--(EON: Enhanced Online News)--Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests for cancer, today announced it has signed a non-exclusive license agreement with GlaxoSmithKline ("GSK"). Under the terms of the agreement, GSK gains certain rights to Response Genetics' proprietary PCR analysis technology and diagnostic expertise to assess BRAF gene mutations in human tumor samples. Payments will be made to Response Genetics upon achivement of agreed-to milestones. Further financial details were not disclosed.
"As a provider of genetic testing services to GSK, we are pleased to continue to support GSK's clinical trial program"
The BRAF gene encodes B-Raf proto-oncogene serine/threonine-protein kinase (B-raf), a protein involved in cell signaling and cellular growth and differentiation. Specific genetic mutations have been correlated with the development of certain forms of cancer.
"As a provider of genetic testing services to GSK, we are pleased to continue to support GSK's clinical trial program," said Kathleen Danenberg, president and CEO of Response Genetics. "Through access to our proprietary technology, Response Genetics provides pharmaceutical companies with unique information and insights. By identifying specific genetic mutations, such as in the BRAF gene, we hope to enable the development of diagnosis tools for disease prognosis that may aid in treatment decisions."
Response Genetics' holds other patented diagnostic technology and provides services to physicians through the company's ResponseDXTM series of tests - proprietary PCR-based tests used to analyze the expression of genes that correlate with response to commonly used chemotherapy agents. ResponseDX: ColonTM, ResponseDX: LungTM and ResponseDX: GastricTM genetic test panels are available in the United States through direct sales and through NeoGenomics Laboratories. In Australia and certain Asian countries, ResponseDXTM genetic tests are available through Genetic Technologies Ltd. All tests are performed through Response Genetics' CLIA-certified laboratory.
About Response Genetics, Inc.
Response Genetics, Inc. ("RGI") (the "Company") (Nasdaq: RGDX) is engaged in the research and development of pharmacogenomic cancer diagnostic tests based on its proprietary and patented technologies. RGI's technologies enable extraction and analysis of genetic information from genes derived from tumor samples stored as formalin-fixed and paraffin-embedded specimens. In addition to diagnostic testing services, RGI generates revenue from the sales of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company was founded in 1999 and its principal headquarters are located in Los Angeles, California. For more information, please visit www.responsegenetics.com.
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and the statements of representatives of RGI related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions, such as the ability of the Company to analyze cancer samples, the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, the ability of the Company to expand its ResponseDX: LungTM and ResponseDX: ColonTM test availability, and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions.
These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.