|CardioDx has signed a deal to distribute its Corus CAD test in India.--Courtesy of CardioDx|
CardioDx, a 2012 Fierce 15 winner, has partnered with India's Core Diagnostics to distribute its coronary artery disease test in the country's burgeoning market.
Under the deal, Core will administer the Corus CAD test to patients in India, shipping samples back to CardioDx's lab in California for analysis and turnaround. Neither company disclosed financial terms.
The gene-expression test requires just a blood draw, and CardioDx says it can rapidly determine whether symptoms like chest pains are in fact signs of obstructive coronary artery disease, saving patients from costly imaging procedures and guiding personalized treatment.
For CardioDx, expanding into India opens up a huge market for its innovative diagnostic, and the company is using the $58 million in venture cash it raised last fall to promote the test around the globe. Since then, CardioDx has been cranking out positive study data, showing Corus CAD to be as effective as the standard of care without the risks inherent in radiation imaging.
Core Diagnostics, a Gurgaon-based startup, opened its doors early this year with the goal of bringing cutting-edge molecular diagnostics to India, absorbing OncoMDx's technology and raising $5.1 million from Artiman Ventures. Partnering with the likes of CardioDx advances the company's mission of serving a large unmet need in its home country, CEO Mohan Uttarwar said.
"Coronary artery disease is a rising epidemic in India, and about 62 million of the country's population is estimated to suffer from CAD by 2015," Uttarwar said in a statement. "CardioDx's state-of-the-art Corus CAD gene expression diagnostic test will help us spearhead the personalized medicine movement in India and provide diagnostic technology that is more convenient than current diagnostic tests for CAD."
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Special Report: CardioDx – 2012 Fierce 15