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OncoMethylome Sciences Liege (Belgium) - June 23, 2008, 08:00 CET - OncoMethylome Sciences (Euronext Brussels: ONCOB, Euronext Amsterdam: ONCOA) announced today that it entered into a supply agreement with Laboratory Corporation of America® Holdings (LabCorp®). OncoMethylome agreed to sell reagents to LabCorp for detecting methylation of the Vimentin DNA marker with Methylation-Specific PCR (MSP). LabCorp plans to initially use the reagents for laboratory-developed, stool-based testing in North America that would serve as an option for traditionally non-compliant patients recommended for colorectal cancer screening. Under terms of the agreement, OncoMethylome will earn revenue for supplying the reagents and will also qualify for milestones tied to commercial use of the reagents by LabCorp.
"We are happy to make our methylation technology available to LabCorp for stool-based colorectal cancer testing. LabCorp's broad presence in North America and its leadership role in bringing novel screening services to the market, make it an attractive partner for OncoMethylome. Colorectal cancer can be treated effectively if diagnosed early; therefore, making our technology widely available for colorectal cancer screening purposes is of utmost importance" commented Herman Spolders, CEO of OncoMethylome.
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About Colorectal Cancer Colorectal cancer is a very common illness with more than 900,000 new cases and 500,000 deaths recorded worldwide each year. Colorectal cancer is best treatable if diagnosed early; however, today, fewer than 40% of colorectal cancers are detected early. American Cancer Society estimates that 50% of deaths from colorectal cancer could be prevented if everyone above the age of 50 were screened regularly. In Europe and US, there are over 200 million people over the age of 50 who would benefit from regular screening for colorectal cancer. OncoMethylome is developing sensitive and non-invasive stool and blood screening tests for this disease.
About Methylation and Methylation Markers Methylation is a natural control mechanism that regulates gene expression in DNA. Abnormal methylation of certain genes, such as tumor suppressor genes, can silence gene expression and is associated with cancer development. Genes, whose methylation is linked to cancer, are called methylation markers. OncoMethylome owns proprietary technology that is highly sensitive and capable of detecting methylation markers, and thereby cancer, even in early stages of cancer development. In the case of colorectal cancer, this technology identifies methylation of genes, or methylation markers, that have been shown to be associated with colorectal cancer.
About OncoMethylome Sciences OncoMethylome Sciences (Euronext Brussels: ONCOB; Euronext Amsterdam: ONCOA) is a molecular diagnostics company developing gene methylation tests to assist physicians in effectively detecting and treating cancer. Specifically, the company's tests are designed to help the physician (i) accurately detect cancer in early stages of cancer development, (ii) predict a patient's response to drug therapy, and (iii) predict the likelihood of cancer recurrence.
OncoMethylome boasts a broad product development pipeline consisting of ten products and a solid partnering record. The company collaborates with leading international molecular oncology research centers, such as The Johns Hopkins University, and has a number of commercial and collaborative partnerships with Veridex LLC, a Johnson & Johnson company, LabCorp, Schering-Plough Corp., GlaxoSmithKline Biologicals, Abbott, Merck KGaA, Millipore Corporation's BioScience Division, and EXACT Sciences Corp. OncoMethylome's products are based on methylation technology invented by Johns Hopkins University (USA).
Established in January 2003, OncoMethylome has offices in Liege and Leuven (Belgium), in Durham, NC (USA), and in Amsterdam (the Netherlands). For more information please contact: Lucija Turcinov Tel. +32-479-801-902 ir@oncomethylome.com www.oncomethylome.com
