HDL, Inc. Acquires Exclusive U.S. License For Early Lung Cancer Detection Test From Oncimmune Ltd.
Virginia-based Health Diagnostic Laboratory, Inc. will acquire and operate Oncimmune’s DeSoto, Kansas lab and become the exclusive licensed U.S. provider of EarlyCDT®- Lung, the world’s first autoantibody test for early detection of lung cancer.
“KBA was an early investor in Oncimmune USA in 2006, investing $2 million in a convertible note to help the company establish its CLIA lab operation in De Soto, KS. We are delighted at this outcome and look forward to the continued success of the EarlyCDT-Lung test,” said Keith Harrington, KBA Director of Commercialization.
“Oncimmune’s subsidiary in the U.S. has been building sales and awareness of the EarlyCDT-Lung test on a steady basis for the past few years,” said Geoffrey Hamilton-Fairley, Executive Chairman of Oncimmune Ltd. “By licensing our first test to HDL, we have secured access to a distribution channel that will deliver greater volume more quickly and at the same time provide sufficient revenues so that the company can accelerate the launch of our other early cancer detection tests.”
Lung cancer is the leading cause of cancer deaths among men and women in the U.S., taking the lives of more people each year than colon, breast, prostate, and pancreatic cancers combined. Lung cancer claims more than three times as many men as prostate cancer and nearly twice as many women as breast cancer. The American Cancer Society predicts that in 2013 there will be approximately 228,000 new cases of lung cancer diagnosed and nearly 160,000 lung cancer associated deaths
Oncimmune USA’s 25 employees will join the 740-employee HDL, Inc. and will remain in the De Soto location as of the closing date for the transaction.