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news.OncoMethylome Sciences has granted Laboratory Corporation of America Holdings an exclusive license on certain IP technology to perform commercial MGMT methylation laboratory testing services in the US and Canada subject to limited exceptions.
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Laboratory Corporation of America Holdings’s (LabCorp’s) Esoterix Clinical Trials Services Division was also selected by OncoMethylome as one of its preferred sub-contractors of MGMT methylation testing services for clinical trials. Under the terms of the agreement, OncoMethylome qualifies for an upfront fee, milestone payments, and royalties from LabCorp. Other terms of the agreement were not disclosed.
Myla-Lai-Goldman, executive vice president, medical director and chief scientific officer of LabCorp, said: “This test is aligned with our focus on companion diagnostics and we are excited by the potential of the MGMT methylation test to help oncologists provide better patient care and guide therapy decisions. Laboratory tests for gene methylation are an important and differentiating addition to our menu of oncology services and allow us to offer a more complete package of services to oncologists and their patients.”