Cizzle Biotechnology Holdings PLC - London-based company developing a blood test for the early detection of various forms of lung cancer - Signs memorandum of understanding with the International Co-Innovation Centre for Advanced Medical Technology and Shenzhen Intelliphecy Life Technologies Co Ltd.
MoU is expected to lead to a full commercial contract where the parties will work closely in the development, manufacture and sale of early cancer detection products and services.
ICCAMT and Intelliphecy are expected to fund the activities in China while Cizzle produces monoclonal antibodies and reagents, for which it will be paid, alongside royalties on any sales in China.
"We are delighted to establish this important collaboration to bring our simple blood test for the early detection of lung cancer based on the C1Z1B biomarker to China. In 2020, nearly 715,000 deaths were caused by lung cancer in China, accounting for around 24 percent of all the three million cancer deaths* there. It is a major health and economic challenge and together with our new partners we aim to contribute to building effective strategies for decreasing the cancer burden in China as part of their comprehensive prevention and control measures," says Executive Chair Allan Syms.
Current stock price: 4.0 pence, down 2.4% on Thursday.
Year-to-date change: down 61% since May 14
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Cizzle Biotech (CIZ)