Oncore Pharma Signs a Multi-Year Agreement Valued at $61.8 Million
Cambridge MA - ( NewMediaWire ) - October 10, 2019 - Oncore Pharma Inc., a life sciences company specializing in blood-based biomarker tests for early cancer detection, announced today that it has signed a multi-year agreement with BodyCheck NL valued at $61.8 million.
According to the multi-year agreement, the initial term of 6 months will be used to implement and launch a sales and marketing campaign in Belgium, Netherlands and Luxembourg. A minimum of 275,000 ColonSentry® diagnostic tests for the early detection of ColoRectal Cancer will be analyzed and reported out by StageZero Life Sciences’ state of the art facility in Richmond, Virginia, USA.
ColonSentry® is an advanced blood-based molecular diagnostic assay that measures the expression of seven genetic biomarkers for the early detection of ColoRectal Cancer, using a patented technology called The Sentinel Principal. This 7-gene blood-based biomarker panel can stratify subjects according to their current relative risk across a broad range in an average-risk population.
“We have a solid partner in BodyCheck NL with their already established network of “checkpoints” throughout the Netherlands. This is an important initial start for us in Europe; the Netherlands ranks #10, and Belgium #14, in the world for ColoRectal Cancer rates in both sexes. Although they represent only 5.6% of our potential liquid biopsy testing market, they are 15.7% of our corporate objectives,” said Martin Verronneau, President and Chief Operating Officer of Oncore Pharma Inc. “The signature of this first agreement less than 4 months after our partnership with StageZero Life Sciences is putting us ahead of schedule in creating sustainable value for our shareholders,” further added Mr. Verronneau.
“This new relationship with Oncore Pharma will enable us to introduce new technology and a blood-based approach to increasing the early detection of ColoRectal Cancer in Benelux,” said Mr. Frank Raymakers, CEO and Director of BodyCheck NL. “Oncore Pharma’s partnerships with leading edge technology, pipeline and their scientific knowledge will help us reach our long-term objectives,” further added Mr. Raymakers.
About Oncore Pharma
Oncore Pharma is a catalyst for research, development and commercialization of innovative products for the diagnosis, care and cure of early stage cancer patient by distributing ColonSentry® through a global licensing and co-marketing agreement.
About BodyCheck NL
BodyCheck NL promote iBodyCheck, a health test that not only provides insight into your health within minutes but also warns you about potential health risks. iBodyCheck is the future of preventive healthcare. Based on the results of your Bodycheck, you receive professional advice on how to (further) increase your health in a responsible manner.
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