SomaLogic, Quest Diagnostics to collaborate on clinical diagnostic development
SomaLogic Announces Collaboration with Quest Diagnostics to Develop Clinical Diagnostics Applications Using Aptamer Technology
Boulder CO, May 6, 2005
SomaLogic, Inc., a leading clinical proteomics company, today announced that it had entered a technology development agreement with Quest Diagnostics Incorporated (NYSE: DGX), the leading provider of diagnostic testing, information and services in the U.S. Under the terms of the agreement, Quest Diagnostics will develop new diagnostic tests based on SomaLogic’s proprietary aptamer array platform. In addition, Quest Diagnostics has made a $15 million equity investment in SomaLogic. Additional terms of the agreements and timetables for test development were not disclosed.
SomaLogic is using its proprietary aptamer array technology to discover new biomarkers and patterns of biomarkers (or disease signatures) for a range of unmet needs in the area of clinical diagnostics. SomaLogic currently has active development programs in the areas of oncology, as well as cardiovascular, autoimmune, and infectious diseases. Quest Diagnostics will develop clinical diagnostic tests based on these biomarkers and disease signatures.
“As the undisputed leader in diagnostic testing, Quest Diagnostics represents an ideal partner for SomaLogic,” said Larry Gold, Ph.D., Chairman and CEO of SomaLogic. “Their relationships with doctors, patients and payers across the country will ensure that future diagnostics based on our proprietary technology will reach the broadest possible audience.”
“It is very exciting to be able to participate in the early stage development of diagnostic tests based on SomaLogic’s aptamer technology,” said Joyce G. Schwartz, M.D., Vice President and Chief Laboratory Officer of Quest Diagnostics. “We are excited about the future potential of clinical proteomics to improve patients’ health.”