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CollabRx teaming up with Life Technologies

SAN FRANCISCO -- CollabRx, which develops technology that is used in genetic-based medicine, is teaming up with Life Technologies Corp. in a molecular diagnostics collaboration focused on cancer patients.

CollabRx Inc. said Thursday that its technology and content resources will be used with Life Technologies' cancer diagnostics development and its laboratory-developed test services business.

Financial terms of the multiyear deal were not disclosed.

Shares of CollabRx jumped $2.30, or 61 percent, to $6.09 in afternoon trading. The stock hit a new high of $7.49 earlier in the session, the highest it's been since November 2009.