(Alliance News) - Cizzle Biotechnology Holdings PLC said on Monday it signed a new 12-month agreement with the University of York for the development of a cancer diagnosis technology.
The London-based developer said the research agreement will develop and validate its proprietary CIZ 1B biomarker technology for the detection of early stage cancer, as well as other potential applications in cancer therapy.
Cizzle will own all intellectual property rights arising from the work.
The company said the collaboration follows "successful results" from its current research programme with the university, which will be extended until September 25 of 2024. The new study will also build on the results from the current programme, Cizzle added.
Executive Chair Allan Syms said: "This new agreement will continue our access to state-of-the-art research facilities and world leading scientists as we pursue our plans to bring early detection tests for lung cancer and potentially other forms of cancer."
Shares in Cizzle were down 2.9% at 3.40 pence each in London on Monday morning.
By Sabrina Penty; Alliance News reporter
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Cizzle Biotech (CIZ)