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Response Genetics, Inc Message Board

  • professor_roy_hinkley professor_roy_hinkley Jan 27, 2014 7:23 AM Flag

    Response Genetics Receives Third GSK Milestone Payment

    Response Genetics Receives Third GSK Milestone Payment
    LOS ANGELES, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help determine a patient's response to cancer therapy, today announced that it has achieved its third milestone payment from GlaxoSmithKline LLC ("GSK") related to the issuance of a U.S. patent for detection of BRAF Mutations.

    In support of the development of Tafinlar® (dabrafenib), in March 2010, GSK entered into a non-exclusive license agreement with Response Genetics whereby Response Genetics granted GSK a non-exclusive, sublicenseable license to its proprietary PCR analysis technology and diagnostic expertise to assess BRAF gene mutations in human tumor samples. The agreement entitled Response Genetics to certain milestone payments. Response Genetics earned its first milestone payment of $500,000 in July of 2012 for submission of the first Premarket Approval ("PMA") and its second milestone payment of $500,000 in May 2013 for the FDA's approval of the PMA. Response Genetics has now earned its third milestone payment of $500,000 upon notice that its patent entitled "Methods, Primers, Probes and Kits Useful for the Detection of BRAF Mutations" was allowed by the United States Patent and Trademark Office.

    "We are extremely pleased to have achieved this milestone," said Thomas A. Bologna, Chairman and CEO of Response Genetics. "The BRAF patent approval is yet another example of the long-standing and mutually-beneficial relationship between Response Genetics and GSK. All of us at Response Genetics take pride in the role we played in the success of this important cancer therapy."

 
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