(Alliance News) - Cizzle Biotechnology Holdings PLC on Friday announced a new collaboration into lung cancer testing with a US partner.
The London-based diagnostics developer has signed a head of terms to partner with a US full-service cancer reference laboratory CorePath Laboratories.
Shares in Cizzle were up 8.0% to 2.27 pence on Friday morning in London.
The strategic alliance will see Corepath use Cizzle's technology to develop an early-stage lung cancer test in the US. A royalty of 15% and other royalty sharing arrangements are proposed for Cizzle for any products and services based on CIZ1B in the US.
CorePath is a laboratory accredited by the Clinical Laboratory Improvement Amendments and College of American Pathologists.
"The company's CIZ1B biomarker to detect early-stage lung cancer could represent a major breakthrough and we now have the opportunity to bring the benefits of this test to such an important market," said Executive Chair Allan Syms.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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