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Tm Bioscience signs agreement with Sirius Genomics for sepsis biomarkers
By Elaine Rigoli
Tampa, Fla., March 20 - Tm Bioscience Corp. announced a commercial license with Sirius Genomics to acquire patents for specific biomarkers related to drugs used to treat sepsis.
Tm Bioscience will incorporate these markers into a diagnostic test for use by critical-care physicians, which it expects to launch in the second half of 2007, according to a company news release.
The agreement covers a series of possible mutations that can occur in the genes associated with two proteins, protein C and arginine vasopressin.
Under the terms of the agreement, Tm Bioscience will provide an upfront payment of $4 million, which will be provided to Sirius in two equal installments in the second and third quarters of 2006, the release said.
The upfront payments will be repaid from net earnings on commercial sales of the severe sepsis test, with the remaining earnings shared equally by Sirius and Tm over the term of the agreement.
"We anticipate that this product could generate in excess of $100 million in revenues in the aggregate over the first three years following commercial launch," Tm Bioscience president and chief executive officer Greg Hines said in a company statement.
Sepsis, a syndrome that can result from a person's over-response to an infection, is often more dangerous than the initial infection and can result in death.
Sirius Genomics, located in Vancouver, B.C., identifies genomic variations in the biological pathways that are implicated in critical illness and severe infection.
Tm Bioscience, a DNA-based diagnostics company that develops genetic tests, is located in Toronto, Ont.
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