GLOSTRUP, Denmark, Jan. 9, 2014 (GLOBE NEWSWIRE) -- Dako, an Agilent Technologies company, announced today it has entered into a master framework agreement with Merck to develop companion diagnostic tests for oncology drugs currently in Merck's development pipeline.
"Dako is relentless in its commitment to fighting cancer, together with our customers and pharma partners," said Jacob Thaysen, vice president and general manager for Agilent's Diagnostics and Genomics business. "With Dako's wide experience in companion diagnostics and its expanded playing field as part of Agilent's Life Sciences and Diagnostics Group, I see great potential in this new agreement. I warmly welcome Merck as our new partner. "
The market for companion diagnostics is steadily growing, as personalized medicine may improve patient care and manage healthcare costs by targeting treatments to individuals more likely to benefit from specific therapies.
Dako collaborates with many top-tier pharma companies to develop companion diagnostics, with a record of successful long-term partnerships with companies such as Bristol-Myers Squibb and Genentech, a member of the Roche Group. Dako continues to attract new partners, most recently Eli Lilly, Pfizer and now Merck.
The financial terms of the master framework agreement were not disclosed.
About Dako - An Agilent Technologies Company
Dako, based in Denmark, is a global leader in tissue-based cancer diagnostics. Hospital and research laboratories worldwide use Dako's reagents, instruments, software and expertise to make accurate diagnoses and determine the most effective treatment for cancer patients. Dako became part of Agilent Technologies in 2012. Information about Dako is available at www.dako.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE:A) is the world's premier measurement company and a technology leader in chemical analysis, life sciences, diagnostics, electronics and communications. The company's 20,600 employees serve customers in more than 100 countries. Agilent had revenues of $6.8 billion in fiscal 2013. Information about Agilent is available at www.agilent.com.
On Sept. 19, 2013, Agilent announced plans to separate into two publicly traded companies through a tax-free spinoff of its electronic measurement business. The new company is named Keysight Technologies, Inc. The separation is expected to be completed in early November 2014.
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Source: Dako Denmark A/S