Benzinga | Aug 10, 2021 09:11AM EDT

Qiagen Inks Companion Diagnostic Development, Technology-Licensing Deal With OncXerna

* Qiagen NV (NYSE:QGEN) and OncXerna Therapeutics have signed a master agreement to develop a next-generation sequencing (NGS) companion diagnostic for navicixizumab, which OncXerna is developing for ovarian cancer.

* The agreement also grants Qiagen a non-exclusive license to OncXerna's Xerna TME (tumor microenvironment) panel. The partners will advance toward in vitro diagnostic regulatory approval as an NGS companion diagnostic navicixizumab.

* Xerna's TME panel uses proprietary RNA-based gene expression data and a machine-learning algorithm to classify patients based on the dominant biology of their cancer to match patients with precision therapies.

* The diagnostic will be used to determine if patients with ovarian cancer whose dominant tumor biology is driven by angiogenesis are more likely to benefit from treatment with navicixizumab, the partners said.

* In addition, the non-exclusive license enables Qiagen to integrate the Xerna panel into its NGS workflow products, thereby broadening its NGS-based companion diagnostic development capabilities.

* Price Action: QGEN shares closed at $52.22 on Monday.