Under the terms of the agreement, Source MDx and Pfizer will collaborate on a series of clinical studies in oncology and inflammation. Source MDx will receive an equity investment and technology license payment, plus research and development funding over the term of the alliance. Source MDx will retain commercial rights to diagnostic biomarkers discovered and validated from the collaboration. The agreement includes provisions under which Pfizer and Source MDx can commercialize any companion diagnostics that may be developed as part of the collaboration.
This molecular diagnostics collaboration will combine Pfizer’s expertise in genomic profiling with Source MDx’s expertise in RNA transcription profiling to identify inflammation and cancer-related biomarkers in whole blood and circulating rare cells. Pfizer and Source MDx will seek to establish molecular profiles of response and resistance for critical cancer and inflammation drugs. Validation of candidate biomarkers will lead to joint commercial opportunities in companion diagnostics.
Karl Wassmann, CEO and president of Source MDx, said: “This alliance not only strengthens our position in the field of oncology and autoimmune molecular diagnostics but more importantly brings the potential of individualized medicine closer to the patient.”