HTG Molecular amends its precision diagnostic partnership
HTG Molecular Diagnostics announced it has amended its second precision diagnostic partnership program with QIAGEN Manchester Limited originally signed in October 2017. This fourth amendment to the program extends the use of the investigational use only, IUO, assay previously developed as part of the program, and adds certain activities that potentially could be included in future companion diagnostic regulatory submissions. The program amendment is expected to generate revenue in the low single-digit millions for these additional activities. HTG expects to complete the activities related to this amendment in 2019. "This amendment highlights the expanded utilization of the program assay into additional trials as well as activities getting us closer to a potential companion diagnostic," stated Byron Lawson, HTG's SVP of Pharma Partnerships. "We are very appreciative of the trust our Pharma partner has extended us with this expansion," Mr. Lawson continued. John Lubniewski, HTG's President and COO, added, "Becoming a preferred partner with biopharmaceutical companies in biomarker-driven drug development is a key aspect of our strategy. I am proud of our program team and the commitment to customer satisfaction that they continually demonstrate."