25th Nov 2015 09:04
LONDON (Alliance News) - Horizon Discovery Group PLC said Wednesday that it has inked development agreements with three developers of companion diagnostic tests worth an initial USD3.3 million.
Under the agreements Horizon will develop new and or supplying existing reference standards for the development and validation of new companion diagnostic tests, and for the potential inclusion in on-market diagnostic kits under original equipment manufacturer deals.
"For these prominent diagnostic companies to choose to collaborate with Horizon underlines our expertise and leadership in the creation of reliable diagnostic reference materials, increasingly critical for precise cancer diagnosis. This represents a continuation of our progress in creating a greater network of trusted partnerships and in finding new channels to market for our products," said Chief Executive Officer Darrin Disley in a statement.
"These deals are part of larger collaborations with the companies involved, and are so are expected to lead to additional revenue over time," Disley added.
Shares in Horizon were up 3.1% at 145.95 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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