|Biocartis Group NV: Biocartis Announces Global Collaboration with Covance|
|By: Nasdaq / GlobenewsWire - 23 Apr 2019||Back to overview list
PRESS RELEASE: 23 April 2019, 07:00 CEST
Covance has been involved in the development of all of the current top 50 drugs on the market as measured by sales revenue. Furthermore, it has the leading central laboratory network serving the biopharma industry, across multiple therapeutic areas, with a specific focus on precision medicine.
Herman Verrelst, Chief Executive Officer of Biocartis, commented: "We are proud to announce today the partnership with Covance, which is another important step in building an ecosystem around Idylla(TM), this time by deploying our Idylla(TM) technology in one of the largest laboratory networks used by the pharmaceutical industry to conduct drug development. We believe that the fully automated and standardized workflow of our Idylla(TM) platform can be of significant value here, potentially paving the way for new partnerships with pharmaceutical companies in the context of their oncology treatment developments."
Steve Anderson, Ph.D., Chief Scientific Officer of Covance, said: "This collaboration demonstrates our continued commitment to advances in precision medicine. Idylla(TM) is a unique rapid molecular diagnostic platform, which we believe offers a wide range of benefits to our customers. Its standardized and fully automated workflow can provide short turnaround times combined with excellent performance. These features are necessary to facilitate the rapid identification and efficient enrollment of patients into clinical trials."
Financial details of the agreement are not disclosed.
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Biocartis and Idylla(TM) are registered trademarks in Europe, the United States and other countries. The Biocartis and Idylla(TM) trademark and logo are used trademarks owned by Biocartis. This press release is not for distribution, directly or indirectly, in any jurisdiction where to do so would be unlawful. Any persons reading this press release should inform themselves of and observe any such restrictions. Biocartis takes no responsibility for any violation of any such restrictions by any person. Please refer to the product labeling for applicable intended uses for each individual Biocartis product. This press release does not constitute an offer or invitation for the sale or purchase of securities in any jurisdiction. No securities of Biocartis may be offered or sold in the United States of America absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended.
 Research Use Only, not for use in diagnostic procedures.
 Idylla(TM) Assays currently available in the USA and China are for Research Use Only, not for use in diagnostic procedures. Any support of clinical trials in the USA, China, or other locations will follow applicable regulations.
 A CDx test is a test used as a companion to a therapeutic drug that helps predict if a patient is likely to respond to a treatment or not.
 Source: https://www.statista.com/statistics/268805/number-of-cancer-drugs-in-development-since-2005/, last consulted on 19 April 2019.
 Source: PMC, 'Personalized Medicine at FDA', A progress and outlook report', 2018.
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