Universal DX Announces Strategic Collaboration With Quest Diagnostics To Bring Advanced Colorectal Cancer Screening Blood Test To Patients And Providers In The United States
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Universal DX (UDX) has announced a strategic collaboration with Quest Diagnostics (NYSE:DGX) to bring an advanced colorectal cancer screening blood test, Signal-C®, to the U.S. market, pending FDA approval. The collaboration includes a 15,000-patient study for FDA premarket approval, with Quest providing clinical laboratory services. UDX also closed its series B financing round, raising approximately $70 million, with Quest as an investor. Signal-C® has shown high sensitivity and specificity in preliminary studies and aims to improve screening accessibility and convenience.
November 20, 2023 | 1:55 pm
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Quest Diagnostics (DGX) enters a strategic partnership with UDX to offer an advanced colorectal cancer screening test, Signal-C®, subject to FDA approval. Quest will perform clinical laboratory services and has invested in UDX's series B financing. The collaboration could enhance Quest's service offerings and potentially increase revenue streams.
The partnership with UDX positions Quest Diagnostics at the forefront of colorectal cancer screening, a significant market given the eligibility of over 110 million Americans. The investment in UDX's series B financing and the potential exclusive rights to provide the test post-FDA approval suggest a strong commitment to the product and an expectation of a positive impact on Quest's business. The preliminary study results showing high sensitivity and specificity of Signal-C® indicate a competitive edge in the market, which could lead to increased demand for Quest's services.
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