Leveraging Diagnostics in a Biotech World
Corixa's recent deal with Ortho-Clinical Diagnostics brings Ortho exclusive worldwide diagnostics rights to Corixa's breast cancer genes and antigens and helps Ortho gain a foothold in the emerging area of molecular testing. It also illustrates how biotech companies caught up in long-term programs for therapeutics can capture some near-term value. While Corixa's lead drug is delayed at the FDA, the deal gives the company a source of revenues that may be small but is at least real.
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Will the emergence of new biological targets as a result of genomics and proteomics change venture investors' prejudice against diagnostics? No--or at least not until patented biomarkers can be tied more closely to the cause of the disease and to a therapeutic that treats it.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.