BETHLEHEM, Pa., Jun 21, 2010 Saladax Biomedical, Inc. announced today that it has entered into a multi-year development and commercialization agreement with Bristol-Myers Squibb for the development of certain clinical diagnostic tests to be used in conjunction with the development of certain therapeutic compounds in the Bristol-Myers Squibb pipeline.
“This collaboration demonstrates our capability to develop clinical diagnostics with a leading global pharmaceutical company such as Bristol-Myers Squibb,” said Dr. Salvatore Salamone, CEO of Saladax. “The breadth and flexibility of Saladax’s core scientific capabilities can be applied broadly to clinical diagnostics in different therapeutic categories.”
Under the terms of the agreement, the companies will collaborate globally on development and regulatory approvals. Saladax received exclusive global rights to commercialize the assays it develops. Financial terms are not disclosed.
Saladax Biomedical develops novel diagnostic tests for the practical delivery of personalized medicine. The Company’s products span all stages of development and address a variety of therapeutic areas, with an initial focus in oncology with its MYCARE(TM) platform. Saladax applies its validated technology platform to generate tests that increase efficacy and reduce toxicity of existing and emerging therapeutics, on a patient by patient basis. Because no two patients are alike.