OncoMethylome Sciences Closes License Agreement With Veridex For Detection Of Prostate Cancer

OncoMethylome Sciences licenses molecular test based on DNA methylation

26-Jan-2005

OncoMethylome Sciences, a company developing advanced molecular diagnostic solutions for individualized cancer treatment and early detection of cancer, announced a license agreement with Veridex LLC, a Johnson & Johnson company.

Under the agreement, Veridex receives an exclusive global license from OncoMethylome Sciences to molecular prostate cancer assays. In addition, both parties have agreed on a development program and an option to license additional assays in the prostate cancer field.

OncoMethylome Sciences will receive an upfront payment, R&D payments, technology milestone payments, several sales milestone payments and royalties on Veridex' sales of the assays. Financial details of the agreement have not been disclosed.

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