CollabRx Teams With Quest Diagnostics in Clinical Genetic Sequencing
SAN FRANCISCO, Nov. 11, 2013 (GLOBE NEWSWIRE) -- CollabRx, Inc. (Nasdaq:CLRX),
a data analytics company focused on informing clinical decision making in
molecular medicine, today announced a multi-year, non-exclusive agreement with
Quest Diagnostics (NYSE:DGX), the world's leading provider of diagnostic
information services, related to medical annotation for new next-generation
sequencing test services for cancer.
Under the agreement, Quest Diagnostics has the right to incorporate into
clinical test reports for its next-generation sequencing cancer tests medical
content, such as scientific literature, medical guidelines and published
therapeutic protocols. The service was developed by CollabRx and customized
for use by Quest Diagnostics. The annotated content may help physicians better
understand, through the database, the clinical significance of test results
indicating the presence of one or more gene mutations. Quest will also have
the right to incorporate the CollabRx content into clinical trials services
performed on behalf of its pharmaceutical and other clients. Additional terms
of the agreement were not disclosed.
"CollabRx is privileged to provide a customized version of our recently
launched Genetic Variant Annotation (GVA) Service™ to Quest Diagnostics, one
of the most influential and highly respected companies in the area of
diagnostic innovation," said Thomas Mika, Chairman, President & CEO of
CollabRx. "Quest Diagnostics has a robust track record and capability in next
generation sequencing and molecular clinical diagnostics, making it well
positioned to help providers gain the most from CollabRx's expertise and
services. This collaboration will expand our reach to physicians and patients
and help the cause of precision medicine with sound science and informed
"The Quest Diagnostics agreement demonstrates CollabRx's accelerating pace of
business and channel development in 2013," said Mika. "This new milestone
attests to the growing adoption of CollabRx technology and interpretive
analytics in top-tier laboratories worldwide as a standard aspect of test
reporting for clinical genetic sequencing in cancer and other diseases."
Quest Diagnostics, which generated revenues of about $7.4 billion in 2012,
serves about half the physicians and hospitals and one in three adults in the
CollabRx, Inc. (Nasdaq:CLRX) is a recognized leader in cloud-based expert
systems to inform healthcare decision-making. CollabRx uses information
technology to aggregate and contextualize the world's knowledge on
genomics-based medicine with specific insights from the nation's top cancer
experts, starting with the area of greatest need: advanced cancers in patients
who have effectively exhausted the standard of care. More information may be
obtained at http://www.collabrx.com.
CollabRx Safe Harbor Statement
This press release includes forward-looking statements about CollabRx's
anticipated results that involve risks and uncertainties. Some of the
information contained in this press release, including, but not limited to,
statements as to industry trends and CollabRx's plans, objectives,
expectations and strategy for its business, contains forward-looking
statements that are subject to risks and uncertainties that could cause actual
results or events to differ materially from those expressed or implied by such
forward-looking statements. Any statements that are not statements of
historical fact are forward-looking statements. When used, the words
"believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and
the like, and/or future tense or conditional constructions ("will," "may,"
"could," "should," etc.), or similar expressions, identify certain of these
forward-looking statements. Important factors which could cause actual results
to differ materially from those in the forward-looking statements are detailed
in filings made by CollabRx with the Securities and Exchange Commission.
CollabRx undertakes no obligation to update or revise any such forward-looking
statements to reflect subsequent events or circumstances.
CONTACT: Gavin J. Gordon, MBA, PhD
Vice President, Business Development & Strategic Alliances
CollabRx, Inc. Logo
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