OncoCyte announes development and marketing agreement with Thermo Fisher Scientific

Oncocyte (NSDQ:OCX) announced yesterday that it entered into a development and co-marketing agreement with Thermo Fisher Scientific (NYSE:TMO).

The development and co-marketing agreement covers two distributed in vitro diagnostic (IVD) assays on Thermo Fisher’s Ion Torrent Genexus system and grants Oncocyte the rights to develop future companion diagnostics on the Genexus system.

Under the collaboration terms, Oncocyte will clinically validate Thermo Fisher’s existing Oncomine Comprehensive Assay Plus on the Genexus system to accelerate it toward IVD clearance for use in tumor profiling and future submissions as a companion diagnostic, according to a news release.

The 500-gene assay could initially provide physicians with information about tumors in accordance with established clinical evidence, Oncocyte said.

Oncocyte will also develop its 27-gene expression DetermaIO test as a distributed kit on Thermo Fisher’s Genexus platform…

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Oncocyte acquires Chronix Biomedical

Oncocyte (NSDQ:OCX) announced today that it completed its acquisition of molecular diagnostics company Chronix Biomedical.

Irvine, Calif.-based Oncocyte’s acquisition includes the intellectual property and technology for Chronix’s TheraSure copy number instability (CNI) monitor test for immune therapy monitoring, according to a news release. Oncocyte also gains organ transplant technology and the associated patent portfolio developed by Chronix.

Under an amended merger agreement, Oncocyte delivered closing consideration and paid off assumed liabilities reaching approximately $4.25 million in cash and $3 million in common stock (about 591,000 shares). The company also agreed to pay an additional $2.5 million in liabilities by July 2022.

Additionally, Oncocyte will pay a revenue share on the net collected revenues for certain tests and services over specific periods, while paying a combination of cash or common stock worth up to $14 million if …

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