Genomic Health Enters License Agreement with Almac Group

Genomic Health GHDX and ALMAC GROUP Ltd jointly announced today that Genomic Health will exclusively license Almac Group's technology and intellectual property to further develop, validate and subsequently commercialize a multi-gene test to predict benefit from DNA damage-based chemotherapy drugs, such as the commonly used anthracycline-based regimens, in breast cancer.  Such a test would be particularly useful for high-risk breast cancer patients who are eligible for chemotherapy based on their Oncotype DX® score.  Genomic Health will identify a study cohort for the validation of Almac's previously identified and published genes.  Genomic Health made an up-front payment of $9 million, which the company expects to expense in the fourth quarter of 2013, and will pay additional milestones as certain clinical and commercial endpoints are achieved in the future. Upon successful commercialization of the test, Genomic Health will pay additional royalties to Almac Group. "Working with Almac, we have the opportunity to gain further insight on the role of DNA repair in drug efficacy, which may provide clinical utility to help select which breast cancer patients benefit from specific chemotherapy drugs and regimens," said Steven Shak, M.D., See full press release