MTI Signs Exclusive Licensing and Distribution Agreement with ADL
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Metabolomic Technologies Inc. (MTI) has signed a multi-million dollar exclusive licensing and distribution agreement with Atlantic Diagnostic Laboratories, LLC (ADL) for its flagship product, PolypDx™, a urine-based diagnostic test for detection of adenomatous polyps, the precursor to colorectal cancer. Colorectal cancer is a leading cause of death in North America with over 157,000 new cases reported in 2015 alone.
With early detection in the adenomatous polyp stage, this form of cancer is preventable. Currently, only 39% of colorectal cancer cases in the United States are diagnosed at an early and treatable stage resulting in a five-year survival rate of 63.5%. The introduction of PolypDx™ hopes to change those statistics. PolypDx™ gives doctors a new tool in the prevention of colorectal cancer. In a Canadian-based clinical trial of nearly 1,000 patients, MTI's PolypDx™ demonstrated significantly higher sensitivity than current fecal-based screening tests to detect adenomatous polyps.
Once screened, patients presenting a risk of adenomatous polyps can be directed to a colonoscopy, during which the adenomatous polyps can be completely and safely removed, thus preventing the progression into colorectal cancer. PolypDx™ is a simple and effective test requiring only a small urine sample. Early detection and ease of use are key distinguishing factors for a screening test in the prevention of colorectal cancer.
The exclusive, three and a half year, multi-million dollar licensing and distribution agreement signed between MTI and ADL provides a valuable entry point into the U.S. market. Initially, PolypDx™ will be available across twelve eastern states through existing distribution channels with the ability to grow distribution across the United States.
"The partnership and collaboration between MTI and Atlantic Diagnostic Laboratories will provide the opportunity for patients to access a simple and accurate test with proven capacity to detect adenomatous colonic polyps and thereby prevent colon cancer," said Dr. Richard Fedorak, President of MTI.
"ADL, with its extensive LC/MS/MS expertise, has long awaited a high-quality partner such as MTI," said Aaron Domenico, Chief Operating Officer of ADL. He added, "ADL is very excited to be offering the PolypDx™ non-invasive urine test."
