Global biotechnology company Transgenomic has signed a collaboration agreement with PDI, a health care commercialization company, to commercialize its CardioPredict.
Developed by Transgenomic, CardioPredict identifies a patient’s specific genes that influence the effectiveness and safety of many commonly used cardiovascular drugs.
Pursuant to the terms of the agreement, PDI will market and promote CardioPredict in the US and Transgenomic will process the molecular diagnostic test in its CLIA lab.
Transgenomic will also be responsible for all customer support regarding the product.
According to the collaboration agreement, Transgenomic and PDI will bear the cost of their respective expenses and will split profit on a formula basis.
Additionally, PDI will provide funding support to Transgenomic to mitigate working capital requirements.
PDI CEO Nancy Lurker noted this collaboration with Transgenomic is another step in the company’s pursuit of commercialization opportunities for clinically valuable products aimed at adding more predictable, higher growth, higher margin businesses that can leverage the substantial full commercialization capabilities of PDI.
"Transgenomic has strong scientific capabilities, an established, efficient and effective CLIA lab and superior patient/physician support infrastructure," Lurker added.
Both companies have formed the collaboration to leverage the fast-growing pharmacogenetic testing segment.