Bionomics Licenses Genetic Tests for Epilepsy to LabCorp

Strategic Insights -

Bionomics has licensed two genetic tests for the diagnosis of epilepsy to Laboratory Corporation of America Holdings (LabCorp), a leading provider of diagnostic services in the US. The tests, which will be made available through LabCorp's extensive network in the US, are designed to assist physicians in distinguishing and properly treating various seizure disorders that occur in infants and young children. Bionomics will receive upfront fees and royalties on the sale of the tests by LabCorp.

Key Takeaways:

  • Bionomics has licensed two genetic tests for epilepsy, one for Severe Myoclonic Epilepsy of Infancy (SMEI) and the Benign Familial Seizures Panel, to LabCorp.
  • LabCorp is the second-largest provider of diagnostic services in the US, with annual sales exceeding $3.0 billion in 2004.
  • The tests will be made available through LabCorp's national network of 33 clinical laboratories and approximately 1,300 patient service centers.
  • Bionomics will receive upfront fees and royalties on the sale of the tests by LabCorp.
  • The Severe Myoclonic Epilepsy of Infancy (SMEI) test is a revolutionary diagnostic tool for a catastrophic epilepsy with a high mortality rate and association with mental retardation.
  • The Benign Familial Seizures Panel is a diagnostic tool for identifying mutations in three different genes associated with seizures, which may be useful in diagnosis for many children under one year of age that experience seizures without fever.
  • Dr. Deborah Rathjen, CEO and Managing Director of Bionomics, stated that the company is "very pleased" to have licensed the tests to LabCorp and hopes that their use will lead to improved care for infants with epilepsy.
  • Dr. Samuel Berkovic of the University of Melbourne, a co-inventor of both tests, stated that the tests should lead to improved care for children affected and greater peace of mind for their parents.

Statistics:

  • LabCorp has annual sales exceeding $3.0 billion in 2004.
  • LabCorp has a national network of 33 clinical laboratories and approximately 1,300 patient service centers.
  • Bionomics will receive upfront fees and royalties on the sale of the tests by LabCorp.
  • The Severe Myoclonic Epilepsy of Infancy (SMEI) test has a high mortality rate and is associated with mental retardation.
  • The Benign Familial Seizures Panel is a diagnostic tool for identifying mutations in three different genes associated with seizures.

Sources:

  • ASIA PULSE 03-11 1522
  • Bionomics ASX Announcement
  • LabCorp (NYSE:LH) Annual Report 2004
  • Bionomics Limited (ASX:BNO) Company Profile