Exiqon To Enter Market for Cancer Molecular Diagnostics

Exiqon A/S (Vedbaek, Denmark) announced that it has signed a binding Letter of Intent to acquire Oncotech, Inc. (Tustin, CA, USA). As a result of the proposed transaction, a number of Exiqon's goals will be realized sooner than anticipated and a significant step towards supplying diagnostic products based on microRNA (miRNA) will be achieved.

The proposed transaction will allow the companies, through a combination of their resources, to become a leading supplier of molecular diagnostic tests based on proprietary miRNA biomarkers. Oncotech will gain access to Exiqon's locked nucleic acid (LNA)-detection technologies and proprietary miRNA biomarkers; Exiqon will be able to build a platform and market its molecular diagnostic business more rapidly. Oncotech will market molecular diagnostic products developed by the combined company.

miRNAs are a novel class of regulatory RNA molecules with widespread effects on gene regulation. Initial studies indicate that miRNAs may regulate 30% or more of all genes in the genome, thus comprising an up-till-now hidden level of regulation. miRNAs have already been found to play important roles in several types of cancers and in processes involved in cellular differentiation.

LNA is a class of nucleotide analogues that bind very strongly to RNA and DNA targets. By including LNAs in detection probes, it is possible to design very specific high-affinity detection assays for small RNA targets like miRNAs, which otherwise is not possible using standard DNA-based detection probes.


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Exiqon
Oncotech Inc