Under the terms of the agreement, CGI will perform complex testing for diagnosis and prognosis of cancer patients in Central America and the Caribbean. CGI will work in close conjunction with AZ-CAMCAR on exploring expansion opportunities into additional geographic territories, further oncology categories, and into select oncology trials.
"We chose to partner with Cancer Genetics in this endeavor because of their experience in biomarker-based diagnostic testing and their commitment to delivering timely and accurate results to healthcare professionals and patients," said Rodrigo Fernandez, Country President of AstraZeneca CAMCAR, S.A.
"Partnering with AstraZeneca further strengthens our ability to touch the lives of patients globally," said Panna Sharma, Chief Executive Officer of Cancer Genetics, Inc. "We believe our ability to provide accurate, state-of-the-art biomarker-based testing was a key factor in AstraZeneca's decision to partner with us, and serves as a testament to the growing global awareness of the value of our brand. We are committed to positively impacting cancer care globally, and this relationship serves as another major milestone in fulfilling that mission."
The relationship is expected to concentrate on multiple cancer categories, with lung cancer being an initial area of focus. According to the Pan American Health Organization ("PAHO"), lung cancer is the third most common cancer and the leading cause of cancer deaths in the Americas, with more than 300,000 new cases and nearly 250,000 deaths each year. PAHO expects the number of new cases and deaths from lung cancer to double in Latin America by 2030.