Cancer Genetics, Inc. Is Selected by BeiGene, Ltd. to Collaborate on Clinical Trial Services & Advance Portfolio of Novel Oncology Therapeutics
RUTHERFORD, N.J., Dec. 07, 2016 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) (“CGI” or “The Company”), a leader in enabling precision medicine for oncology through molecular markers and diagnostics, announced a collaboration with BeiGene, Ltd. (Nasdaq:BGNE), a global, clinical-stage, research-based biopharmaceutical company developing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer. The two companies will work together on BeiGene’s immune marker and genomics initiatives to accelerate studies of tumor microenvironment in cancer patients, which will aid in drug target identification and biomarker discovery.
BeiGene’s clinical-stage drug candidates inhibit four important oncology targets, including Bruton’s tyrosine kinase (BGB-3111), the immune checkpoint receptor PD-1 (BGB-A317), the PARP family of proteins (BGB-290), and the RAF dimer protein complex (BGB-283). Each of BeiGene’s drug candidates has demonstrated promising early anti-tumor activity and a favorable safety profile, and has the potential to be a best-in-class or first-in-class product. These drug candidates are being evaluated as monotherapies and in combination regimens for the treatment of a variety of cancers, including solid tumors and hematological malignancies. CGI will provide biomarker and central laboratory for multiple clinical trials for BeiGene’s BGB-3111, BGB-A317, and BGB-290 programs to promote accelerated market entrance and identify subsets of patient populations.
"Our collaboration with CGI and their expertise in comprehensive biomarker profiling will enable in-depth understanding of tumor immune infiltration in cancer patients, with the goal of identifying promising drug combinations for future development,” commented Dr. Lai Wang, Head of Discovery Biomarkers, BeiGene. “Research by BeiGene and others has suggested that combination regimens of immuno-oncology agents and targeted drugs may have potent therapeutic activity in multiple cancers due to their combined effects on tumor microenvironment and tumor growth inhibition. With CGI’s support in novel assay development and clinical trial services, BeiGene aims to expand the current understanding of the tumor microenvironment and develop next-generation cancer treatments.”
"Combination regimens of immuno-oncology agents and targeted drugs may represent the next generation of cancer treatments and could result in improved outcomes and prolonged patient survival," commented Dr. Rita Shaknovich, Group Medical Director of CGI. "We are excited to join the effort to develop novel cancer treatment approaches and support our global biopharma partners in both accelerating treatments into the marketplace, and deepening our understanding of the mechanisms and variations in tumor infiltration in patients.”
Cancer Genetics is currently supporting over 100 clinical trials and studies globally with over 30 focused on immune therapies. Panna Sharma, CEO and President of CGI commented, “Our expanding customer base of highly innovative biopharma companies, such as Beigene, is a testament to the value and depth of our people and portfolio. In addition to testing and monitoring genomic activity and response in targeted therapy trials, we expect a majority of trials to also involve an immuno-oncology arm going forward. The ability to partner with CGI to capture both immune and genomic sets of information for specific tumor types is a cornerstone of our value proposition to the biopharma community.”
BeiGene is a global, clinical-stage, research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. With a team of over 300 scientists, clinicians and staff in mainland China, the United States, Australia and Taiwan, BeiGene is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer. BeiGene is working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding BeiGene’s initiation, timing, progress and results of its preclinical studies and clinical trials. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; BeiGene's ability to achieve market acceptance in the medical community necessary for commercial success; BeiGene's ability to obtain and maintain protection of intellectual property for its technology and drugs; BeiGene's reliance on third parties to conduct preclinical studies and clinical trials; BeiGene’s limited operating history and BeiGene's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates, as well as those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.
ABOUT CANCER GENETICS
Cancer Genetics Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, India and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetics Inc.’s expectations regarding future financial and/or operating results and potential for our tests and services, and future revenues or growth in this press release constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the Quarter ended September 30, 2016 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.
CONTACT: Panna Sharma Cancer Genetics, Inc. 201-528-9200 firstname.lastname@example.org
Released December 7, 2016