Biodesix® and Bioyong Announce Agreement for Joint Development and Commercialization of VeriStrat® Test in Greater China
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US $38M; Potential Expansion into Other Asia/Pacific Countries, Additional Liquid Biopsy Products
Biodesix, Inc. (Boulder, CO, USA) and Bioyong Technology Company Ltd. (Beijing, China) announced today that they have entered into an international collaboration agreement where Bioyong will develop and commercialize a version of Biodesix’s VeriStrat® proteomic blood test, a precision medicine diagnostic for patients with non-small cell lung cancer (NSCLC), for clinical use in Greater China, with potential expansion into other Asia-Pacific countries.
Bioyong will perform their version of the VeriStrat® test on their Clin-TOF matrix assisted laser desorption and ionization (MALDI) mass spectrometry platform. The two companies will also collaborate on the development of new mass spectrometry-based assays in oncology and other clinical areas.
The collaboration calls for significant technology transfer of Biodesix’s proprietary MALDI methods and the development of their commercial tests in greater China. Bioyong will make investments in the development, clinical validation, regulatory approval, and commercialization of a version of the VeriStrat® test in their territory. The parties will collaborate on advancing the use of MALDI for clinical use. Bioyong will pay Biodesix approximately $38 million over the life of the collaboration.
With nearly 850,000 new lung cancer diagnoses predicted in 2020, China represents approximately 37% of new cases worldwide.
“We believe that cancer is a global problem. Patients and their physicians everywhere want cancer treatment that is grounded in precision medicine, including therapy selection that reflects the full spectrum of biological information provided by our multivariate, molecular and proteomic assays,” said David Brunel, CEO of Biodesix. “By collaborating with Bioyong, we are taking a major step toward making our technology available to a large portion of the world’s lung cancer patients.”
“We are excited to collaborate with Biodesix to bring a version of the VeriStrat® testing to patients in Greater China, and potentially beyond,” said Dr. Qingwei Ma, founder and chairman of Bioyong. “Building on our leadership in the clinical application of mass spectrometry, Bioyong looks forward to helping physicians make more informed treatment decisions, and provide better recovery and prognostic possibilities for patients suffering from lung cancer.”
About the VeriStrat® test:
Biodesix’ VeriStrat® test is a predictive and prognostic blood-based proteomic test for patients with non-small cell lung cancer. The test is used to assess disease aggressiveness by characterizing host response to the tumor, classifying patients as either VeriStrat-Good or VeriStrat-Poor.
Biodesix® is a molecular diagnostics company advancing the development of innovative blood tests in oncology to enable precision medicine. Biodesix discovers, develops and commercializes multivariate protein and genomic diagnostic blood tests, including the GeneStrat® and VeriStrat® tests, that deliver results within 72 hours. The company is changing the standard of care by providing physicians with diagnostic tests for better therapeutic guidance, more accurate prognosis and enhanced disease monitoring to improve patient outcomes. At the forefront of precision medicine, Biodesix is developing new blood tests to identify patients who may benefit from immunotherapies. In addition to developing novel diagnostics independently, the company partners with biotechnology and pharmaceutical companies to develop companion diagnostics for use with therapeutic agents.
Bioyong Technology Company, Ltd has dedicated itself to developing mass spectrometry technologies for more than a decade. With the only/unique CFDA approval of domestic MALDI platform so far, Bioyong has expertise in serum peptidomics, nucleic acid detection and microorganism identifications. These technologies can and have been applied extensively in the growing field of precision medicine in an attempt to improve both diagnosis and prognosis for patients with a broad range of diseases. We are working hard to make the world healthier.
For more information about Bioyong, please visit www.bioyong.com.