Exosome Diagnostics teams with Amgen for liquid biopsy test development

(Amgen)

Earlier this year, Exosome Diagnostics said that it would scout out deals with biopharma partners to gain ground with its liquid biopsy tests. Now, the company is delivering on this goal by partnering with biotech titan Amgen ($AMGN).

Neither side is revealing financial terms. But the pair will work together to create a test that uses Exosome’s liquid biopsy tech to spur drug development, the company said in a statement.

The partnership marks a milestone for Exosome, which has been working hard over the past year to gain momentum with its liquid biopsy tests. In January, the Cambridge, MA-based company closed a $60 million Series B round to launch its liquid biopsy test and help secure companion diagnostics deals with biopharma.

The financing included support from diagnostics giant Qiagen ($QGEN), who partnered with the company in 2014 to develop a lung cancer diagnostic.

Exosome markets its tests as offering an advantage over more invasive tissue biopsies. The company’s diagnostics analyze exosomes released into biofluids to identify cancer biomarkers.

Exosome’s first liquid biopsy test looks at RNA and DNA to screen for prostate cancer, lung cancer and solid tumor. But the company plans to expand its offerings to include tests for inflammatory, metabolic, cardiovascular and neurodegenerative diseases.

A deal with Amgen opens the door to more test development and could help Exosome expand its portfolio at a faster pace.

“The strategy and positioning of the company since the beginning of 2016 is garnering significant results, and we look forward to expounding upon these successes,” Exosome CEO John Boyce said in a statement.