Biodesix signs collaboration deal with breast cancer drugmaker

BOULDER — Biodesix Inc. (Nasdaq: BDSX) has agreed to build a companion test for HiberCell Inc. as the latter takes its breast cancer drug candidates through clinical trials.

In a statement, the Boulder-based Biodesix said it and New York City-based HiberCell will co-develop the test to determine suitable candidates for HiberCell’s candidate treatments for hibernating or relapsed breast cancer.

Financial terms of the deal were not disclosed.

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The collaboration marks Biodesix’s entry into developing tests for a new part of the body. The company historically has focused on developing tests that help doctors of lung cancer patients determine the best modes of treatment; last year it partnered with Bio-Rad Laboratories Inc. (NYSE: BIO) to launch COVID-19 active infection and antibody tests.

Biodesix CEO Scott Hutton also hinted that the two companies could make other assays for HiberCell treatment candidates. HiberCell’s focus is on treating hibernating cancer cells within patients in remission.

“Working together on a companion diagnostic for the [breast cancer treatment trial] program is only touching the surface of what we can do together,” he said. “This approach to identifying patients for this drug is very novel and holds tremendous promise.”

The announcement comes days after Biodesix said it expects to post revenues of $25 million to $27 million during the final quarter of 2020, a sharp increase from the $9.2 million it recorded in the quarter prior.

Those figures come months after Biodesix debuted on the Nasdaq Global Markets, raising $63 million after deducting underwriting costs and additional fees but missing its maximum fundraising target of $79 million.

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