Transgenomic Inc (NASDAQ:TBIO) is the newest inclusion in the “biotech rocket” club. Stock surged almost 300% in response to its news that Canadian reference lab LifeLabs has chosen “ICE COLD-PCR” as its mutation enrichment base for cancer testing on tissue samples. This renewable deal will run for 3 years initially. The contract terms are not revealed.
Separately, the firm has been given a new Canadian patent for the ICE COLD-PCR process that enriches mutated DNA sequences in a family of normal DNA. This patent will be legal through 2030. Transgenomic stated that ICE COLD-PCR offers up to a 500-fold jump in mutation detection as against most current procedures, with levels of detection declining to 0.01%, turning it an ideal means for liquid biopsy analyses.
The expert view
Paul Kinnon, the CEO and President of Transgenomic, said that LifeLabs is among the leading lab service providers in North America. They consider their adoption of ICE COLD-PCR as a major validation of the technology as well as commercial model that emphasizes on licensing to numerous molecular diagnostics associates worldwide.
They consider that this sizable commercial licensing deal is indicative of the rising traction in the marketplace they have been anticipating, and they think that it will be followed by other significant ICP deals going forward.
LifeLabs plans to use “ICE COLD-PCR” with tissue samples and is obtaining a non-exclusive license to the latest ICP technology in Canada. The 3-year renewable deal also allows LifeLabs to gain from technology improvements and other product releases during its term.
Joby McKenzie of LifeLabs said that as the leading laboratory service provider firm in Canada, LifeLabs is dedicated to providing their clients access to progressive clinical genomic analyses made conceivable by key new technologies like ICE COLD-PCR. They consider that this versatile mutation enrichment know-how will be applied to other molecular testing uses as adoption of precision and genomic medicine expands.
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