Metabolomic Technologies Inc. Signs Exclusive Licensing and Distribution Agreement With U.S. Based Atlantic Diagnostic Laboratories LLC
Metabolomic Technologies Inc. (MTI) has signed a multi-million dollar exclusive licensing and distribution agreement with Atlantic Diagnostic Laboratories, LLC (ADL) for its flagship product, PolypDx™, a urine-based diagnostic test for detection of adenomatous polyps, the precursor to colorectal cancer.
Colorectal cancer is a leading cause of death in North America with over 157,000 new cases reported in 2015 alone. With early detection in the adenomatous polyp stage, this form of cancer is preventable. Currently, only 39% of colorectal cancer cases in the United States are diagnosed at an early and treatable stage resulting in a five-year survival rate of 63.5%. The introduction of PolypDx™ hopes to change those statistics.
This is an exclusive agreement in 12 states including larger markets such as New York, New Jersey, Pennsylvania and Florida, and the MTI team is actively pursuing additional partnerships in Canada, the US, and abroad. This is a great win for the University of Alberta and the Alberta health ecosystem.