SAN DIEGO, Dec. 8, 2010 /PRNewswire/ -- Prometheus Laboratories Inc., a specialty pharmaceutical and diagnostic company, announced today the execution of an oncology-focused mutational analysis services agreement with Bayer Schering Pharma AG, Germany, a worldwide leading pharmaceutical company. The addition of this mutational analysis services agreement broadens Bayer's oncology-focused molecular and pathway activation profiling collaboration with Prometheus to include comprehensive mutational analyses. The expanded information derived from this agreement has the potential to improve patient stratification in clinical studies and accelerate the development of novel oncology diagnostic and therapeutic products.
Under the terms of this agreement, Bayer will provide clinical samples, sourced from clinical studies, and Prometheus will perform mutational analyses that characterize the presence or absence of existing and novel cancer-relevant mutations in these samples. Prometheus will be compensated based on the number and complexity of mutational analyses it completes for Bayer.
"This agreement represents further validation of the importance of our oncology focused CEER and mutational analysis platforms," said Joseph M. Limber, President and Chief Executive Officer of Prometheus. "The combination of our mutational analysis and CEER platforms that this agreement represents is an important step to providing a more comprehensive analysis to Bayer, that may result in improved selection of patients who will benefit the most from specific drug candidates Bayer is developing. We believe this collaboration has the potential to ultimately result in improved outcomes for patients."
Prometheus and Bayer entered into a research collaboration and license agreement in March of this year. This collaboration partners Prometheus' proprietary oncology diagnostic CEER platform with Bayer's broad oncology pipeline with the objective of stratifying patients to