Cancer Genetics Enters Supply Agreement with Agilent Technologies
Probes for CGI’s FISH-based HPV-Associated Cancer Test (FHACT®) test to be manufactured by Agilent
RUTHERFORD, N.J., Sept. 25, 2018 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq: CGIX), a leader in enabling precision medicine for immuno-oncology and genomics through molecular markers and diagnostics, today announced that it has signed a non-exclusive supply agreement with Agilent Technologies Inc. through which Agilent will manufacture Cancer Genetics’ proprietary FISH probe reagents.
Under the terms of the agreement, Agilent will manufacture and supply Cancer Genetics with the custom probe for use in the Company’s FISH-based HPV-Associated Cancer Test (FHACT®). Additionally, Cancer Genetics’ plans to outlicense the probes through domestic and international distribution channels, with such licensors having the ability to purchase probes manufactured by Agilent.
John A. Roberts, Chief Executive Officer of Cancer Genetics, commented, “We are pleased to finalize our agreement with Agilent, who has established itself as a leader in delivering solutions for scientific research, especially in manufacturing of FISH probes. This agreement marks an important milestone for Cancer Genetics and the company’s FHACT® test as it allows for expansion of our international business opportunities by outlicensing our probes, which is an integral part of the company’s new strategy for revenue generation and path to profitability.”
Cancer Genetics’ FHACT® is the only four color FISH probe available for cervical cancer testing. When used as an additional triage before colposcopy, FHACT® can help identify women with low-grade or undetermined lesions (ASCUS/LSIL) who are likely to progress to more advanced cervical disease. FHACT® can help reduce healthcare costs, relieve patient anxiety, and prevent complications associated with over treatment by reducing the number of unnecessary colposcopies performed.
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This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in revenues, margins, research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. tests and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements.
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