Biotech Values

[DewDiligence]

EXAS, Mayo Clinic expand R&D collaboration:

http://finance.yahoo.com/news/exact-sciences-extends-expands-relationship-130000061.html

Under an extension of the agreement Exact and Mayo Clinic announced in mid-2009, the company’s research and development collaboration with David A. Ahlquist, M.D., and his lab will be expanded to include all gastrointestinal cancers and diseases, and new cancer screening applications of stool- and blood-based testing. Exact will continue to have exclusive rights to commercialize breakthroughs that result from this collaboration.

Exact will make up-front, milestone and royalty payments to Mayo Clinic. It will continue to fund the collaborative work done in Dr. Ahlquist’s lab.