Health Discovery Corporation and Smart Personalized Medicine Form Agreement for Developing Laboratory Tests for Breast Cancer Therapy Selection with Quest Diagnostics
SAVANNAH, Ga. & MILFORD, Del.--(BUSINESS WIRE)--Health Discovery Corporation (OTCBB: HDVY - News) (HDC) and Smart Personalized Medicine, LLC (SPM) announced today that they have entered into development and related licensing agreements with Quest Diagnostics Incorporated (NYSE: DGX - News), the world’s leading provider of diagnostic testing, information and services. Under the agreements, Quest Diagnostics will develop new laboratory tests for aiding in the selection of breast cancer therapies.
Under the terms of the agreements, HDC and SPM will receive upfront licensing payments, development fees and royalties on a per test basis from Quest Diagnostics.
In February 2009, Health Discovery Corporation announced that it had licensed rights to develop a new urine-based test for clinically significant prostate cancer to Quest Diagnostics.
About Health Discovery Corporation
Health Discovery Corporation is a molecular diagnostics company that uses advanced mathematical techniques to analyze large amounts of data to uncover patterns that might otherwise be undetectable. It operates primarily in the emerging field of personalized medicine where such tools are critical to scientific discovery. Its primary business consists of licensing its intellectual property and developing its own product line of biomarker-based diagnostic tests that include human genes and genetic variations, as well as gene, protein, and metabolic expression differences and image analysis in digital pathology and radiology. For more information, see www.healthdiscoverycorp.com.
About Smart Personalized Medicine, LLC
Smart Personalized Medicine, LLC was formed by Richard E. Caruso, Ph.D., to focus on and enable the development of a new methodology of accomplishing detailed breast cancer patient diagnosis and personalized individual treatment. In 2006, Caruso was named the E&Y National Entrepreneur of the Year for the United States following of his founding of Integra LifeSciences Corporation (NasdaqGS: IART - News). Health Discovery Corporation owns an equity position in Smart Personalized Medicine.
