TMCnet News
Transgenomic Licenses Commercial Rights to Its Long QT Syndrome DNA Testing Portfolio to LabCorpTransgenomic, Inc. (TBIO), (NASDAQ: TBIO), today announced that it has signed a commercial license agreement with Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) for TBIO's portfolio of intellectual property pertaining to DNA susceptibility testing for Long QT syndrome (LQTS), a primarily congenital heart rhythm disorder that is associated with potentially lethal cardiac arrhythmias. Certain prescription medications and activities can trigger LQTS in susceptible individuals, so accurately identifying individuals at risk is important. Further details of the non-exclusive agreement were not disclosed. TBIO President and CEO Paul Kinnon commented, "We are delighted to license our Long QT syndrome DNA testing portfolio to LabCorp, one of the premier diagnostic testing companies in the US. The portfolio includes relevant intellectual property from a number of major research and commercial institutions, and we believe it produces more comprehensive and accurate test results. LabCorp has the scale and reach to ensure that this superior LQTS testing is broadly available to patients who might benefit, with the potential to reduce the burden of this dangerous condition and improve overall patient care." Mr. Kinnon continued, "This royalty-generating agreement with LabCorp is the most recent example of our ongoing strategy to monetize our non-core assets, as we continue to focus on advancing the commercialization of our enabling ICE COLD-PCR (News - Alert) technology for precision medicine." Long QT syndrome is a heart condition in which delayed repolarization of the heart following a heartbeat increases the risk of episodes of irregular heartbeats. These episodes may lead tofainting or sudden death due to ventricular fibrillation. In some individuals, the QT prolongation occurs after the administration of certain medications or sports activities. LQTS is primarily a congenital condition but it can also be acquired as a result of severe malnutrition. Genetic testing can help identify people at risk of Long QT syndrome and, by detecting the presence of specific LQTS genetic variants, testing can also help physicians identify the most appropriate treatment and monitoring plan for individual patients. "We are very excited to enhance LabCorp's Long QT syndrome testing through this agreement with Transgenomic," said Marcia Eisenberg, PhD, Chief Scientific Officer of LabCorp Diagnostics. "Providing potentially life-saving information about additional mutations associated with Long QT syndrome is a further example of LabCorp fulfilling its mission to improve health and lives through world-class diagnostics."
About Transgenomic
Forward-Looking Statements View source version on businesswire.com: http://www.businesswire.com/news/home/20160720005088/en/ |