Cancer Genetics, Inc. Announces a Global Partnership with BARC Global Central Laboratory to Offer Comprehensive Clinical Trial and Companion Diagnostic Solutions for the Oncology Industry
(Thomson Reuters ONE) -
* -- The companies have entered into an agreement to offer biotech and
pharmaceutical companies access to BARC's network of global central
laboratories covering 7 locations in 2 hemispheres in combination with
Cancer Genetics' expertise in biomarker and genomic testing as well
as companion diagnostic development for oncology.
* -- The partnership is focused on the 5.4 billion U.S. Dollars expected to be
spent by biotech and pharmaceutical companies in biomarker and genomic
testing to support oncology clinical trials from Phase I through Phase IV by
2020.
RUTHERFORD, N.J., GHENT, Belgium and PARIS, Sept. 21, 2016 (GLOBE NEWSWIRE) --
Cancer Genetics, Inc. (Nasdaq:CGIX); ("CGI" or "The Company"), a leader in
enabling precision medicine for oncology through molecular markers and
diagnostics, announced today that it has entered into a partnership with the Bio
Analytical Research Corporation (BARC), a global central laboratory supporting
clinical trials and serving large pharmaceutical and biotech companies globally,
including in Europe, Africa, China, Australia and the USA.
BARC has a global network of 7 clinical labs supporting the pharmaceutical and
biotechnology industry in the development and approval of new drugs by managing
the laboratory component of Phase I thru IV clinical trials, with 60% of these
trials in oncology. BARC's worldwide network includes The Americas, Europe,
South Africa, and Asia Pacific. BARC is part of Cerba HealthCare, a European
medical leader with an international multidisciplinary network of 350 clinical
labs, 4,200 staff members, and has been in business for over 25 years.
BARC and CGI are expected to jointly market, sell and deliver on contracts that
service a market that is increasingly global, and in demand for more validated
biomarker and companion strategies that support oncology trials. The partnership
will have an immediate focus on immuno-oncology, hematological cancers and lung
cancer and will plan on developing market specific offerings that are
collaboratively sold and serviced.
"We are very excited about this partnership, as this will help our customers on
a global basis to accelerate their drug development and incorporate the
additional biomarker and genomic data needed to improve decision making. CGI
will enable BARC to offer world class genomics expertise to make early decisions
in the complex field of oncology, especially in the very competitive environment
of immuno-oncology," said Michel Abiteboul, CEO of BARC. "We strongly believe
that our combined efforts will support the precision medicine approach of
pharmaceutical companies globally for the benefit of patients and their
families."
"With BARC and CGI focused on the same goal of providing patients, physicians
and pharmaceutical companies with the best healthcare service, this partnership
will meet the most demanding standards in personalized medicine worldwide. It
will satisfy the enormous need among biotech and pharmaceutical companies for
more efficient and comprehensive testing solutions by integrating CGI's
specialized, genomic testing with BARC's laboratory solutions and global
network. Providing better and more integrated access to both US and European
markets is a critical need in oncology trials that are becoming more global and
increasing in cost and complexity," said Panna Sharma, CEO of Cancer Genetics.
With later stage clinical research and trials shifting overseas, the partnership
will provide clients access to combined expertise on a global basis - ranging
from complex, oncology-focused genomic testing to core central laboratory
analysis, project and data management and sample logistics. It will address the
increased pressure regarding turn-around time (TAT) due to
increasingly globalized studies. The combined expertise in biomarker discovery
and companion diagnostics development will become critical for offering the
development and validation of oncology biomarkers and for implementing
technology transfers that support the precision oncology efforts of with global
customers.
Based on recent industry reports by PhRMA, an industry organization representing
the country's leading biopharmaceutical research companies, per-patient clinical
trial costs are estimated to have averaged $36,500 during Phase III trials, with
oncology trials showing the highest average per-patient cost of $59,500 during
Phase III. The CGI and BARC combination is expected to help lower clinical trial
costs and complexity by facilitating access to international markets,
implementing harmonized protocols and data integration standards across lab and
trials and reducing the complexities of workflow across sites, sample management
and storage and logistics.
Oncology testing services are central to CGI's business model and are also a
core focus area for BARC. Together, the two companies will leverage their
respective expertise to provide key insights to the oncology drug development
and clinical trial process, one that is expected to reach over $5.4 billion in
spending on oncology trials that need biomarker and genomic testing support.
ABOUT CANCER GENETICS
Cancer Genetics, Inc. is a leader in enabling precision medicine in oncology
from bench to bedside through the use of oncology biomarkers and molecular
testing. CGI is developing a global footprint with locations in the US, India
and China. We have established strong clinical research collaborations with
major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic,
Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide
critical genomic and biomarker information. Its state-of-the-art reference labs
are CLIA-certified and CAP-accredited in the US and have licensure from several
states including New York State.
For more information, please visit or follow CGI at:
Internet: http://www.cancergenetics.com
Twitter: (at)Cancer_Genetics
Facebook: www.facebook.com/CancerGenetics
ABOUT BARC CENTRAL LAB
BARC Central Lab is part of a global lab group, Cerba HealthCare, with more than
4000 staff located in its different units. BARC Central Lab is dedicated to
clinical trials and serves large pharmas to biotechs in the different regions of
the world. Focusing on innovation and customer service, BARC is supporting
global development of drugs through its network of laboratories in US, Europe,
Africa, China, Singapore, Australia and Japan. BARC has been very active in the
field of oncology and hemato oncology, working on the front runner drugs
globally.
The Company offers a comprehensive range of laboratory services from routine to
highly innovative tools including NGS, flow cytometry, and versatile biomarkers
in different fields.
For more information about BARC, please visit:
Internet: http://www.barclab.com
Twitter: (at)BARC_CentralLab
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements pertaining to
Cancer Genetics Inc.'s expectations regarding the completion, timing, pricing
and size of the offering described in this press release constitute forward-
looking statements.
Any statements that are not historical fact (including, but not limited to,
statements that contain words such as "will," "believes," "plans,"
"anticipates," "expects," "estimates") should also be considered to be forward-
looking statements. Forward-looking statements involve risks and uncertainties,
including, without limitation, risks inherent in the development and/or
commercialization of potential products, risks of cancellation of customer
contracts or discontinuance of trials, risks that anticipated benefits from
acquisitions will not be realized, uncertainty in the results of clinical trials
or regulatory approvals, need and ability to obtain future capital, maintenance
of intellectual property rights and other risks discussed in the Cancer
Genetics, Inc. Form 10-K for the year ended December 31, 2015 and the Form 10-Q
for the quarter ended June 30, 2016 along with other filings with the Securities
and Exchange Commission. These forward-looking statements speak only as of the
date hereof. Cancer Genetics, Inc. disclaims any obligation to update these
forward-looking statements.
Contact:
Panna Sharma
CEO & President
Cancer Genetics, Inc.
201-528-9200
panna.sharma(at)cgix.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cancer Genetics, Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 21.09.2016 - 10:04 Uhr
Sprache: Deutsch
News-ID 496075
Anzahl Zeichen: 9828
contact information:
Town:
Rutherford
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 230 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Cancer Genetics, Inc. Announces a Global Partnership with BARC Global Central Laboratory to Offer Comprehensive Clinical Trial and Companion Diagnostic Solutions for the Oncology Industry"
steht unter der journalistisch-redaktionellen Verantwortung von
Cancer Genetics, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
