Genostics, a Hong Kong diagnostics company, will acquire China rights to Oncimmune’s blood-based cancer testing platform in return for a $13.5 million investment into the UK-based company’s shares. Initially, Genostics will bring Oncimmune’s EarlyCDT®-Lung to China. The product is an early, blood-based lung cancer screening test for use in smokers who have not shown symptoms of the disease. Oncimmune will receive a royalty of 8% on the gross revenue, with minimum royalty payments of $21 million over the first six years and $7 million per year thereafter.
Source: China Biotoday
