HZD.L Share News (HZD)

(ShareCast News) - Horizon Discovery, a developer of gene editing technologies, has entered into partnerships with three Chinese diagnostic kit developers to treat tumours.The company will provide HDx Reference Standards for next generation sequencing assay development, clinical trials, and for inclusion with in-kit controls under original equipment manufacturer agreements.Under the agreements, the company will support the development of new next generation sequencing diagnostic assays that, subject to approval by the Chinese food and drug administration will identify which patients would benefit from receiving targeted therapies to treat solid and liquid tumours.The developers will pay Horizon for reference standards for use as quality controls in their assay development and clinical trial programmes.Horizon is in discussions with each developer to provide reference standards as in-kit controls for a minimum of five years post-clearance, as assays in China cannot to make any changes in the format of the test for five years from approval, which provide revenues in the six figure range per year.Each developer is expected to develop three to four assays a year over the next several years with the company providing reference standards for each, with the first assays to be approved in 2018The company said it is now being approached for additional partnerships with about 20-30 other developers.Chief executive Dr. Darrin Disley said the company has entered the Chinese market, leading with its HDx reference standards and bioproduction cell lines, as its emerging markets team, had established the relationships to succeed in the large, growing, but complex market."Today's announcement is a validation of this effort as we establish Horizon as the preeminent provider of reference standards to China, initially for NGS applications and soon expanding to other genomic assays and immunohistochemistry."Shares in Horizon Discovery were up 1.04% to 126.30p at 0955 GMT.