Genomic Vision Renews Its Strategic Collaboration with Quest Diagnostics for Three More Years

Genomic Vision (Paris:GV) (FR0011799907 – GV / PEA-PME eligible), a molecular diagnostics company specialized in the development of diagnostic tests for genetic diseases and cancers based on molecular combing, today announces that it has signed an amendment to its contract with Quest Diagnostics to extend their strategic collaboration based on Genomic Vision's technology. The amendment extends the collaboration for three more years, until November 2018.

Under the terms of the amendment, Quest Diagnostics retains exclusive rights to develop, validate and market tests based on molecular combing in the fields of breast and ovarian cancer, such as BRCA gene mutation testing, hereditary colon cancer (Lynch syndrome), spinal muscular atrophy (SMA) and facioscapulohumeral muscular distrophy (FSHD) in the United States, India and Mexico.

Genomic Vision will continue to retain exclusive rights to market its tests in Europe, the Middle East and Africa, per the original agreement with Quest. Quest Diagnostics, an equity owner in Genomic Vision, has granted Genomic Vision rights to seek to develop new diagnostic tests in partnership with other providers of diagnostic services or medical centers in the United States and to market them all over the world. Genomic Vision will be able to accelerate the number of diagnostic tests offered utilizing its technology by working with leaders in many fields worldwide.

Quest will receive credits against milestone payments earned by Genomic Vision in consideration for the rights granted. The royalty rate paid to Genomic Vision by Quest Diagnostics for the provision of testing services based on laboratory-developed molecular combing tests will increase significantly. Additional terms were not disclosed.

The extension follows an announcement by Genomic Vision in January 2015 that it had delivered a high-throughput molecular-combing genome analyzer to the Quest Diagnostics Nichols Institute, an advanced genomics and R&D laboratory center in San Juan Capistrano, Calif.

Charles (Buck) Strom, MD, PhD, Medical Director of Quest Diagnostics Nichols Institute, Quest Diagnostics, comments: "We believe molecular combing is a potential break-through technology for analyzing and detecting gene variants missed by other techniques, making it a superb complement to our next generation sequencing offerings. We look forward to continuing to develop the clinical and commercial value of this technology with future genomic services."

"This is a truly great opportunity for Genomic Vision, which will increase our value-creation potential in new indications with new diagnostics players in the United States. In the constantly evolving genetic testing market, healthcare providers and medical laboratories have technological choices, and we are proud that molecular combing is being considered by the world’s leading diagnostic information services provider to advance its portfolio of services for detecting hereditary cancers and other genetic diseases,” said Aaron Bensimon, Genomic Vision’s co-founder and President of the Management board.

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