Biora Therapeutics, Inc. (NASDAQ:BIOR), the biotech company that is reimagining therapeutic delivery, today announced it has completed an agreement to license its Preecludia™ rule-out test for preeclampsia to Avero Diagnostics, formerly Northwest Pathology, for commercial development.
“We have been impressed with the Avero team’s execution on several diagnostic assets, and we are excited to again partner with them to commercialize this assay, which we believe will offer providers a new screening aid in an area of great unmet need,” said Adi Mohanty, Chief Executive Officer of Biora Therapeutics. “As we have shown, we remain committed to value creation from all our assets while Biora focuses on the progress of its therapeutics pipeline.”
“We are excited to leverage the work done by Biora and fully validate and commercialize this innovative test, which will serve a valuable purpose in the prenatal care community,” said Ryan Fortna, M.D., Ph.D., president of Avero Diagnostics. “This fits well in our product offerings for our existing OB/GYN-focused client base, and presents a large opportunity as a differentiating factor for future growth.”
Under the terms of the agreement, Avero Diagnostics receives rights to assets and intellectual property related to the Preecludia test. Biora will receive commercial milestone payments and low double-digit royalties on net sales.
About the Preecludia™ Test
The Preecludia rule-out test for preeclampsia has the potential to be the first-of-its-kind test in the United States to help healthcare providers evaluate patients who have signs and symptoms of possible preeclampsia. This laboratory developed test (LDT) is a novel, multi-analyte protein biomarker assay designed to examine markers from multiple pathophysiological pathways of preeclampsia to assess risk. It is designed to be run from a simple blood draw and is intended to address the unmet need for tools to aid in the assessment and management of preeclampsia. The company previously shared topline results from the clinical validation study for the Preecludia test, which was followed by publication of the validation study in Hypertension, a journal of the American Heart Association.
