This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Transgenomic Signs Commercialization Collaboration With PerkinElmer For Oncology Diagnostic Test Portfolio

Transgenomic, Inc. (OTCBB:TBIO), a global biotechnology company advancing personalized medicine in cardiology, oncology, and inherited diseases through diagnostic tests as well as clinical and research services, today announced that it has entered into a collaboration agreement with PerkinElmer, Inc.(NYSE:PKI) a global leader focused on improving the health and safety of people and the environment, to market and distribute Transgenomic’s oncology diagnostic test portfolio of products in territories outside the United States.

Under the terms of the agreement, effective January 1, 2014, PerkinElmer will have the non-exclusive right to begin sales, marketing, distribution and field service activities on a worldwide basis (excluding US) for Transgenomic’s line of molecular diagnostic oncology products, including CRC RAScan™ and ACE™ kits, for use on the PerkinElmer LabChip® MultiDx platform. The CRC RAScan™ provides a single kit solution for detecting KRAS and NRAS genetic mutations that are highly relevant when considering administration of select EGFR inhibitor therapies associated with metastatic colorectal cancer. The initial launch will be in Europe and financial terms of the agreement were not disclosed.

“Molecular diagnostics are an integral and rapidly growing component of oncology care,” said Steve Wallace, Vice President, Molecular Diagnostics at PerkinElmer. “Transgenomic’s platform, technology and research collaborations place them at the forefront of innovation both for their marketed tests as well as their robust product pipeline. We look forward to providing customers a complete testing solution including DNA extraction, oncology diagnostic assays and high performance microfluidics instrumentation.”

“PerkinElmer is a leading global life science company with a strong reach throughout the clinical diagnostics market,” said Paul Kinnon, President and Chief Executive Officer of Transgenomic. “They are the ideal commercial collaborator for our oncology genetic testing portfolio outside of the US. This portfolio addresses a growing breadth of genetic markers important to assessing risk, prognosis and treatment of a variety of cancers.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs