Clinical Genomics Continues Progress in Developing Biomarker Portfolio for Colorectal...

Clinical Genomics Continues Progress in Developing Biomarker Portfolio for
Colorectal Cancer Testing
To Receive Milestone Payments from Quest Diagnostics

SYDNEY, April 29 /PRNewswire/ -- Clinical Genomics Pty Ltd, an Australian
biotechnology company, announced today that Quest Diagnostics Incorporated,
the world's leading provider of diagnostic testing, information and services,
has agreed to provide milestone payments over the next two years to Clinical
Genomics to further develop its portfolio of gene-based biomarkers associated
with early onset of colorectal cancer. Clinical Genomics was awarded the
payments after successfully achieving key research and development goals.
Under terms of a worldwide license agreement, Quest Diagnostics has exclusive
rights to the biomarkers for use in developing a test as an aid in detecting
precancerous and cancerous colorectal tumors in conjunction with other
clinical findings. Additional financial terms were not disclosed.
Clinical Genomics, in collaboration with Flinders University (South
Australia) and the Australian Government's Commonwealth Scientific and
Industrial Research Organization (CSIRO, Australia), has discovered molecular
markers that show promise as aids in detection of both colorectal cancer and
precancerous adenomas.
"Quest Diagnostics is at the forefront of efforts to develop and offer
cancer testing innovations, including gene-based blood tests and fecal
immunochemical tests associated with the detection of colorectal cancer," said
Lawrence LaPointe, CEO of Clinical Genomics. "We are excited that as the
world's leader in cancer diagnostics, Quest Diagnostics appreciates the
potential of our proprietary biomarkers to form the basis for a laboratory
test that one day may aid the detection of early-stage colorectal cancer."
Colorectal cancer is the second most common cause of cancer related death
of both men and women in the United States and Australia. Colorectal cancer is
largely treatable when detected in the early stages. Yet, due to low screening
rates, fewer than 40 percent of cases are caught early [1].
In 2006, Quest Diagnostics acquired Enterix Inc., manufacturer of the FDA-
cleared InSure(R) fecal immunochemical test (FIT) for aiding the detection of
colorectal cancer based on stool testing. Quest Diagnostics also made an
equity investment in Clinical Genomics, which was formed as a spin off from
Enterix's research and development.
[1]American Cancer Society
About Clinical Genomics
Clinical Genomics is a Sydney-based biotechnology company formed in 2006
to exploit the patented and patent-pending gene expression biomarkers of
colorectal cancer discovered by its founders and Flinders University in 2001.
Clinical Genomics continues to work closely with Flinders University and CSIRO
to advance the development of products that will improve the detection and
management of this serious disease. Additional information is available at:
www.clinicalgenomics.com.

Contact: (For Clinical Genomics)
Lawrence LaPointe,
+61 4 0099 5027,
larry@clinicalgenomics.com

SOURCE Clinical Genomics Pty Ltd

Lawrence LaPointe of Clinical Genomics Pty Ltd, +61 4 0099 5027,
larry@clinicalgenomics.com