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Quest Diagnostics, Genomic Vision Announce Multi-Year Exclus
Quest Diagnositcs (NYSE:DGX) and Genomic vision announced a multi-year exclusive cooperation that involves Genomic Vision’s proprietary molecular combing genomic-analysis technology.Under terms of the agreement, Quest Diagnostics has exclusive rights to build up and offer clinical- and research-use laboratory testing services based on Genomic Vision's molecular combing technique in the United States, India and Mexico.Jay G. Wohlgemuth, M.D., vice president, science and innovation, Quest Diagnostics said, "Genomic Vision's DNA combing technology is a potential game changer in genomic analysis. Similar to how microarrays introduced an entirely new concept to analyze genetic alterations, DNA combing, by facilitating analysis of single DNA molecules, could radically improve our understanding of disease-causing mutations and, in turn, clinical testing and drug development."Genomic Vision will hold on to rights to market new testing services that surface from the collaboration's research and development in Europe, the Middle East and Africa. Quest Diagnostics has also made an equity investment for an undisclosed sum in Genomic Vision. Additional terms were not disclosed.Quest Diagnostics has a potential upside of 11.4% based on a current price of $58.05 and an average consensus analyst price target of $64.69.
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Date Found: July 15, 2011
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