OmniSeq & LabCorp Extend Exclusive Distribution Pact & Complete Follow-On Investment Agreement
OmniSeq and LabCorp recently announced an extension of their exclusive distribution agreement as well as an additional investment by LabCorp. The distribution agreement and LabCorp’s initial investment in OmniSeq’s Series B financing round were first announced in August 2017.
The distribution agreement originally provided LabCorp with exclusive distribution rights for the OmniSeq Comprehensive and Immune Report Card clinical assays. The agreement’s extension adds OmniSeq Advance, as well as the OmniSeq MSI NGS test. Together, OmniSeq’s next-generation sequencing (NGS)-based assays provide comprehensive genomic and immune profiling to enable oncologists to select the most appropriate therapies or clinical trials for each patient. Pursuant to the agreement, OmniSeq’s suite of advanced tests will be exclusively offered by LabCorp to US-based physicians through Integrated Oncology, a member of the LabCorp Specialty Testing Group, and globally to biopharmaceutical customers through Covance, LabCorp’s drug development business.
Proceeds from LabCorp’s additional investment will be used by OmniSeq to pursue FDA approval or clearance of its proprietary NGS-based comprehensive genomic and immune profiling panels, to continue the development of new panels intended to predict the response to checkpoint inhibitors and other immune-therapies, and to support the expansion of testing operations.
According to Mark Gardner, CEO of OmniSeq, “We are honored to extend our partnership with LabCorp to expand access to OmniSeq’s advanced testing methodologies to help provide more precise guidance in the selection of the right therapy or clinical trial for patients diagnosed with a broad range of cancers. With LabCorp’s continued collaboration and support, we will have the funding to augment the clinical utility of our testing services, and to make the best of precision medicine more readily available to physicians and patients across the US and to biopharmaceutical companies around the globe.”
“OmniSeq has been an excellent partner for us in both clinical studies and clinical diagnostics,” said Marcia Eisenberg, Chief Scientific Officer of LabCorp Diagnostics, and a member of OmniSeq’s board of directors. “Working together, we have brought advanced NGS-based diagnostics to market, supporting more informed clinical decisions for targeted and immuno-oncology therapies. By combining the clinical trials capabilities of Covance, the single-source lab solutions services of Integrated Oncology, and the testing services of OmniSeq, LabCorp is uniquely positioned to bring precision medicine to oncology patients across the country.”
OmniSeq, an innovation of Roswell Park Comprehensive Cancer Center, is a molecular diagnostic laboratory based in Buffalo, NY. OmniSeq endeavors to find the right drug or the right trial for every patient by improving access to better cancer treatment options through molecular profiling. OmniSeq offers four NGS-based assays: OmniSeq MSI NGS, Immune Report Card, OmniSeq Advance, and OmniSeq Comprehensive. For more information, call +1-800-781-1259 or visit www.omniseq.com.
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