Advisor on licensing and commercialization agreement with Genomic Health
Almac Group announced that Genomic Health will exclusively license Almac’s technology and intellectual property to further develop, validate, and subsequently commercialize a multi-gene test to predict benefit from DNA damage-based chemotherapy drugs, such as the commonly used anthracycline-based regimens, in breast cancer. Such a test would be particularly useful for high-risk breast cancer patients who are eligible for chemotherapy based on their Oncotype DX® score. Genomic Health will identify a study cohort for the validation of Almac’s previously identified and published genes. Genomic Health made an up-front payment of $9 million dollars, which the company expects to expense in the fourth quarter of 2013, and will pay additional milestones as certain clinical and commercial endpoints are achieved in the future. Upon successful commercialization of the test, Genomic Health will pay additional royalties to Almac Group.