Radient Pharmaceuticals Corp (RPC), through its US-based subsidiary AMDL Diagnostics, has signed an exclusive 5-year marketing, sales and distribution agreement with GenWay Biotech for the commercialization of its Onko-Sure in-vitro diagnostic cancer (IVD) test in Greece.
Onko-Sure is a simple, non-invasive, patent-pending and regulatory-approved in vitro test for use as an aid in early detection of cancer that enables physicians and their patients to effectively monitor and/or detect certain types of cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP).
Onko-Sure is approved by the FDA for the monitoring of colorectal cancer and by Health Canada as a lung cancer screen and cancer monitoring tool.
Under the terms of the agreement GenWay Biotech will be responsible for the marketing and product sales in this new market. Radient Pharmaceuticals had signed a similar agreement with GenWay Biotech earlier this year which gave GenWay Biotech the exclusive rights to market, sell and distribute Onko-Sure in seven other international markets.
Douglas MacLellan, chairman and CEO of Radient Pharmaceuticals, said: “RPC is making strong headway in its 2010 Onko-Sure commercialization plan. The announcement and expansion to Greece demonstrates significant progress particularly in the European Union where RPC holds the CE mark from the European Union for Onko-Sure product sales in Europe as a general cancer screen.
“As a strong partner to RPC, GenWay has already initiated product sales in this market through an extensive sales network. GenWay is penetrating the EU through the support of a dedicated sales and marketing organization for Onko-Sure.”
Sergey Sikora, vice president of business development of GenWay Biotech, said: “Our relationship with Radient Pharmaceuticals continues to grow and we remain extremely pleased with the addition of Greece as the newest international market we are representing. Product sales are already underway and we expect this market to be among the strongest in our growing network of countries where GenWay is selling Onko-Sure.”