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LabCorp, Veridex Ink Licensing Deal

LabCorp licenses a nucleic-acid-testing technology for prostate cancer from the J&J unit.

LabCorp

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said Tuesday that it entered into a license agreement with Veridex, a unit of

Johnson & Johnson

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(JNJ) - Get Johnson & Johnson (JNJ) Report

, to commercialize nucleic-acid-testing technology for prostate cancer, the leading cause of cancer death in men in the U.S.

The technology detects the presence of a key tissue market in prostate cancer, methylated GST-Pi. LabCorp said the test is intended to be used for difficult-to-diagnose prostate cases and when the status of a patient's condition is uncertain, specifically biopsies with suspicious histopathology and for patients who have elevated prostate-specific-antigen (PSA) values with biopsy findings that are repeatedly negative.

Terms of the agreement weren't disclosed.

Shares of LabCorp, a Burlington, N.C.-based clinical laboratory company, were up 27 cents, or 0.3%, at $78.90, in recent trading Tuesday.