Last checked at 
LONDON (Alliance News) - Proteome Sciences PLC Thursday said its PS Biomarker Services arm has won a contract with Genting TauRx Diagnostic Centre Sdn Bhd to develop diagnostic products.
Proteome said the Biomarker Services arm will analyse blood samples from patients enrolled in a Phase 3 trial of LMTX, the experimental Alzheimer's disease drug, being developed by TauRx Therapeutics, of which Genting TauRx is an affiliate.
The drug, which targets the tau pathway, is being developed by TauRx for the treatment of Alzheimer's disease of mild to moderate severity, Proteome said.
Under the terms of the deal, Proteome will be paid research fees totalling USD2 million in both upfront and milestone payments. In exchange, Genting TauRx will get a licence to Proteome's existing blood biomarkers for Alzheimer's and both companies will share commercialisation rights of the diagnostic assays which are developed.
"We are delighted that Genting TauRx has chosen PS Biomarker Services to develop diagnostic assays in the challenging field of Alzheimer's disease. Having tests that can reliably detect the disease, select the right patients to receive LMTX and monitor their response will be critical in ensuring more people can benefit from this potentially ground-breaking treatment," said Proteome Chief Operating Officer Ian Pike.
Proteome shares rose on the back of the news, up 6.6% to 40.5 pence in mid-morning trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
