Compugen Ltd (CGEN)

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Compugen Announces Second Diagnostic Agreement With Biosite Incorporated
Wednesday March 7, 7:00 am ET
New Agreement Increases Number of Potential Products and Adds Additional Diagnostic Areas

TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:CGEN - News) announced today a second agreement with Biosite Incorporated for the development and commercialization of immunoassay diagnostic products.

Under the new agreement, in addition to expanding the number of potential diagnostic biomarkers available for selection by Biosite, Biosite obtains access to Compugen's increasing inventory of immunoassay biomarkers. Furthermore, the collaboration is expanded to cover cardiovascular, oncology and additional diagnostic areas.

As with the initial agreement, Compugen will receive milestone payments and royalties from the sale of any products emerging from the collaboration. Compugen retains the exclusive right to therapeutic applications of both the targets and associated antibodies.

The collaboration combines Biosite's expertise in both rapid, high-affinity antibody development and successful commercialization of proprietary testing platforms for single and multiple biomarker assays with Compugen's unique discovery capabilities based on its comprehensive predictive analysis of the human proteome and related discovery engines.

"Targeting our goal of becoming the world leader in the discovery and licensing of product candidates to the drug and diagnostic industry, we must not only enter into new collaborations, but also build on and strengthen our existing ones," said Alex Kotzer, President and Chief Executive Officer of Compugen. "Therefore, we are very pleased with this significant expansion of our immunoassay diagnostic collaboration with Biosite, a leading provider of rapid diagnostic products and antibody development technologies."

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