Brief: Biocartis And Exact Sciences Agree To End Collaboration

Biocartis NV

29/10/2020 15:53

Oct 29 (Reuters) - BIOCARTIS GROUP NV  BCART.BR :
    * BIOCARTIS AND EXACT SCIENCES AGREE TO END COLLABORATION
DUE TO
CHANGED MARKET CIRCUMSTANCES
    * AS A RESULT OF COVID-19, PROJECT HAD BEEN SUSPENDED
EARLIER
DURING 2020, WITH PROJECT PLAN AND TIMING UNDER EVALUATION
    * COLLABORATION WAS FOCUSED ON DEVELOPMENT OF ONCOTYPE DX
BREAST
RECURRENCE SCORE(®) TEST ON BIOCARTIS' MOLECULAR DIAGNOSTICS
PLATFORM IDYLLA
    * DECISION TO NOW TERMINATE COLLABORATION WAS DRIVEN BY
UNCERTAIN
TIMING OF A PRODUCT MARKET RELEASE BECAUSE OF PANDEMIC AND A
DECISION BY EXACT SCIENCES TO SHIFT PRIORITIES TO OTHER
INITIATIVES
    * AS PART OF A TERMINATION SETTLEMENT, GENOMIC HEALTH, INC.
AGREED
TO PAY USD 12 MILLION TO BIOCARTIS AND LICENSE CERTAIN RIGHTS
AND TRANSFER CERTAIN ASSETS TO BIOCARTIS

Source text for Eikon:  ID: 
Further company coverage:  BCART.BR 

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