Thursday, 25 October 2007

Med Biogene Engages U.S. Consulting Firm To Drive Partnering Efforts

Med Biogene (MBI: TSX-V)

Med Biogene expects to sign its first strategic partnership with a global diagnostics company – with significant up-front, milestone and royalty payments – by the end of 2008 for the commercialization of LymphExpress DX™.

To that end, four months ago MBI established the following three key milestones that it expects to achieve leading up to that partnership.

  • Establish experienced business development team to prepare for and negotiate MBI’s first strategic partnership for LymphExpress DxTM

  • Expand collaboration with Duke University to include other major universities and heathcare centres to further develop and validate LymphExpress DxTM

  • Confirm high accuracy data for LymphExpress DxTM

Today’s news release, announcing the engagement of a leading U.S. consulting firm, coupled with the appointment of Dr. Melanie M. Mahtani as Executive Advisor, Commercial Development, to drive the partnership efforts means that the first milestone is now complete.

To view the news release, click here.

MBI is focused on the development and commercialization of genetic diagnostic and screening tests for cancer and cardiovascular disease. MBI’s lead product is LymphExpress Dx™, a test for the accurate and rapid diagnosis of lymphoma.