-- Companies to focus on potential companion diagnostic opportunity --
DENVER — Corgenix Medical Corporation (OTCBB: CONX), a worldwide developer and marketer of diagnostic test kits, announced today that it has entered into a collaboration agreement with Eli Lilly and Company (NYSE: LLY) to develop diagnostic technology in support of a Lilly oncology pipeline program. Under the terms of the agreement, the two companies will collaborate to further advance this proprietary diagnostic technology originally developed by Lilly. The financial terms of the agreement were not disclosed.
"We are very pleased to enter into this new and exciting collaboration with Lilly," said Douglass Simpson, President and CEO of Corgenix, "This relationship strengthens our company's program of strategic alliances in key areas of laboratory and research medicine. The Lilly collaboration in particular opens a new door for Corgenix as we continue to explore this technology in global clinical research as potential new technology to meet the needs of oncology clinicians worldwide."
The collaboration with Lilly is part of Corgenix' recently announced expansion of its Contract Services Business Unit for contract product development, technology application and manufacturing for the healthcare and biotechnology industries.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world's only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience in product submissions to the FDA and other worldwide regulatory authorities. Additionally Corgenix contract develops and manufactures products for key medical and life science companies in state-of-the-art facilities in Colorado. The company operates under a Quality Management System that is ISO 13485:2012 certified and compliant with FDA regulations. More information is available at www.corgenix.com (Corporate website) and www.corgenix.net (Contract Services website).