BOULDER — Biodesix Inc. in Boulder said Monday it will partner with China-based Bioyong Technology Co. Ltd. for the joint development and commercialization of Biodesix’s blood test for patients with non-small cell lung cancer.
Bioyong will pay Biodesix approximately $38 million over the life of the collaboration.
Biodesix will transfer technology for its VeriStrat test to Bioyong for the development of commercial tests in greater China, with the possibility of expanding to other Asia-Pacific countries.
Bioyong will make investments in the development, clinical validation, regulatory approval and commercialization of a version of the VeriStrat test in its territory.
With nearly 850,000 new lung cancer diagnoses predicted in 2020, China represents approximately 37 percent of new cases worldwide, according to a Biodesix statement.
“We believe that cancer is a global problem,” David Brunel, chief executive of Biodesix, said in a prepared statement. “Patients and their physicians everywhere want cancer treatment that is grounded in precision medicine, including therapy selection that reflects the full spectrum of biological information provided by our multivariate, molecular and proteomic assays. By collaborating with Bioyong, we are taking a major step toward making our technology available to a large portion of the world’s lung cancer patients.”
Biodesix’ VeriStrat test is used to assess disease aggressiveness by characterizing host response to a tumor.