02.10.2013 | 131002_press_release_Epigenomics_AG_Polymedco
- Companies to join efforts in commercialization of Epi proColon®
- Epigenomics to provide manufacturing, medical, regulatory and strategic marketing
- Polymedco, the US leader in CRC screening products, to contribute logistics, sales, marketing and customer support
Berlin, Germany, and U.S.A. – Epigenomics AG (Frankfurt Prime Standard: ECX, OTC: EPGNY), the German-American cancer molecular diagnostics company, announced today that it has entered into a joint commercialization agreement with Polymedco Inc., a leading provider of colorectal cancer tests in North America. Both companies will jointly commercialize Epi proColon®, Epigenomics’ blood-based test for colorectal cancer (CRC) screening, in North America.
Under the terms of the agreement, Polymedco will deploy its CRC dedicated sales force and technical support staff, administration, logisticsand other support functions to ensure the optimum market introduction and roll-out of Epi proColon® once the test is potentially approved by the US Food and Drug Administration. Both parties will work jointly on the marketing, launch and development strategies and with key payers to obtain favorable reimbursement coverage. Epigenomics will retain the responsibility to manufacture the product and to support it from the medical and regulatory point of view, including activities necessary to achieve inclusion in major cancer screening guidelines post approval. A working group comprised of representatives of both companies will oversee the launch and commercial roll-out and engage in activities necessary to ensure the commercial success of the product once it becomes available to the market. The companies agreed to a combined transfer price and profit sharing agreement subject to minimum annual sales of test kits from Epigenomics to Polymedco.
Thomas Taapken, CEO and CFO of Epigenomics, commented: “We are excited to enter into this joint commercialization agreement with Polymedco. The significant know-how and commitment of Polymedco to the CRC screening space will accelerate our commercial roll-out in North America. Being able to leverage the existing and well-functioning infrastructure of Polymedco will mean a significant time and resource advantage for Epigenomics between now and market launch of Epi proColon®.”
Noel Doheny, CEO of Epigenomics’ US subsidiary, commented: “Polymedco’s commitment to the CRC screening space will accelerate our commercial roll-out in North America and will mean a significant time and resource advantage for Epigenomics in the launch of Epi proColon®. Being able to work with the market leader in CRC screening products in the US will enable us to efficiently target the right customers in order to increase screening compliance among those 35 million people in the US who today are not compliant to CRC screening.”
Polymedco is the largest provider of CRC screening tests in North America, with more than USD 50m in annual sales for its cancer diagnostics products. The company’s product range includes multiple platforms for automated and manual Fecal Immunochemical Test (FIT) solutions for CRC testing. It has an established customer base of more than 1500 laboratories, of which 100 are major medical centers. Polymedco’s staff devoted to the joint collaboration is comprised of more than 50 specialized sales and support experts, which target exclusively laboratories and medical centers engaged in cancer screening and diagnostics.
Drew Cervasio, President and CEO of Polymedco, commented: “We are very pleased to partner with Epigenomics on the commercialization of Epi proColon® and thereby to expand our dominant position in the colon cancer screening market. We believe that the two complementary tests, Epi proColon® and FIT testing solutions, will drive the highest patient compliance for CRC screening. Our joint mission is to screen the entire population over 50 years old on a regular basis and offering these two different solutions will help to achieve this. This process will lead to early detection, better patient care and saving our healthcare system billions of dollars with the reduction of late-stage treatment”
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Epigenomics (www.epigenomics.com) is a molecular diagnostics company developing and commercializing a pipeline of proprietary products for cancer. The Company’s products enable doctors to diagnose cancer earlier and more accurately, leading to improved outcomes for patients. Epigenomics’ lead product, Epi proColon®, is a blood-based test for the early detection of colorectal cancer, which is currently marketed in Europe and is in development for the U.S.A. The Company’s technology and products have been validated through multiple partnerships with leading global diagnostic companies and testing laboratories. Epigenomics is an international company with operations in Europe and the U.S.A.
Polymedco Inc. is a leading manufacturer, marketer, and distributer in the clinical laboratory marketplace. Polymedco supplies clinical diagnostic test kits and devices that are specialized in hematology and cancer. We are a world leader in non-invasive colorectal cancer screening technology, providing the new standard of care with the OC-Auto® and OC-Light® product line.
Since 1980, Polymedco has evolved into a highly skilled and successful marketing, sales, and manufacturing organization. With an experienced team of field representatives combined with strong technical service personnel, Polymedco provides a high level of customer, technical and reimbursement support.
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