Corgenix Medical Corporation announced that it has entered into a collaboration agreement with Eli Lilly and Company to develop diagnostic technology in support of a Lilly oncology pipeline program. Under the terms of the agreement, the two companies will collaborate to further advance this proprietary diagnostic technology originally developed by Lilly. The financial terms of the agreement were not disclosed.
“We are very pleased to enter into this new and exciting collaboration with Lilly,” said Douglass Simpson, President and CEO of Corgenix, “This relationship strengthens our company’s program of strategic alliances in key areas of laboratory and research medicine. The Lilly collaboration in particular opens a new door for Corgenix as we continue to explore this technology in global clinical research as potential new technology to meet the needs of oncology clinicians worldwide.”
The collaboration with Lilly is part of Corgenix’ recently announced expansion of its Contract Services Business Unit for contract product development, technology application and manufacturing for the healthcare and biotechnology industries.