) is collaborating with
) to develop and market a multigene next generation sequencing
(NGS)-based test, which will be used as a companion diagnostic
for Amgen's cancer treatment, Vectibix. The financial details of
the transaction, however, remain undisclosed.
This in vitro diagnostic test will be based on ILMN's
sequencing and genotyping technology platform, MiSeqDx, which is
already approved in the U.S. as well as the EU. The test will
identify RAS mutation status of patients and will help identify
patients eligible to be treated with Vectibix. Vectibix is
approved in the U.S and EU, as a treatment method suitable for
metastatic colorectal cancer in patients whose disease has
progressed while on or after undergoing chemotherapy.
Per the agreement, both companies will seek the FDA approval
and CE Mark for the multigene test. Once approval is gained,
Illumina will focus on marketing the test in the U.S. and the
Next generation sequencing is a hi-tech platform designed to
perform advanced research on DNA or RNA molecules.
We believe the NGS platform offers great market potential. The
Amgen deal is in line with Illumina's efforts to strengthen its
presence in this space - earlier this month, Illumina had entered
into a strategic partnership with
) allowing the latter to use the MiseqDX platform and related
reagents for molecular laboratory-developed tests.
We are optimistic about management's expansion strategy
through the enhancement of the company's portfolio of sequencing
products and development of strategic partnerships with
therapeutics and diagnostic services providers.
Currently, Illumina has a Zacks Rank #3 (Hold). A
better-ranked stock in the broader healthcare sector is
), carrying a Zacks Rank #1 (Strong Buy).
ACTELION LTD (ALIOF): Get Free Report
AMGEN INC (AMGN): Free Stock Analysis Report
QUEST DIAGNOSTC (DGX): Free Stock Analysis
ILLUMINA INC (ILMN): Free Stock Analysis
To read this article on Zacks.com click here.