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June 11, 2013 /PRNewswire/ -- Natural Molecular Testing Corporation (Natural Molecular, NMTC), a privately-owned company providing groundbreaking clinical diagnostic molecular testing and services in the medical genomics field, announced today the launch of their laboratory developed comprehensive Personalized Medicine Panel. This cardiac panel, commercialized by Natural Molecular, is comprised of 42 targets and built using Luminex Corporation's (NASDAQ: LMNX) xMAP® Technology.
"Our goal is to bring the latest advancements in medical science and technology to help clinicians do one simple thing: provide the best possible care for their patients," said
Beau R. Fessenden, CEO of Natural Molecular. "By converting to Luminex's xMAP technology, we can improve our throughput and workflow efficiency with more comprehensive and highly sensitive assays that set us apart in the marketplace. The flexibility and high throughput of the Luminex platform combined with the ability to add additional biomarkers make the technology unique and best suited to our expanding needs."
Each year more than 2 million Americans are hospitalized due to adverse drug reactions which lead to an estimated 100,000 deaths.
1 Molecular testing allows physicians to diagnose genetic abnormalities in patients, providing guidance in selecting optimal medications and doses of medications while minimizing risk for a wide variety of common conditions such as chronic heart disease and pain.
"We are excited to be expanding our relationship with Natural Molecular in the important area of pharmacogenomics," said
Patrick Balthrop, president and CEO of Luminex. "It is valuable for a physician to know whether a specific therapeutic compound will be most beneficial for a particular patient. Through the use of genetic testing, driven by the throughput and scalability of our technology and the unique services of NMTC, our two companies are working together to optimize patient outcomes and lower overall health-care costs. We look forward to expanding opportunities with Natural Molecular, a leader in pharmacogenomic testing."
The financial terms of the multi-year collaboration and license agreement were not disclosed.