Biora Therapeutics Announces Sale of Cell-Free DNA Patent Rights
Biora Therapeutics, Inc. (Nasdaq: BIOR) has finalized a one-time asset sale agreement with Roche Diagnostics, transferring certain patent rights stemming from its past molecular diagnostics R&D. While financial terms remain undisclosed, the patents relate to methods for identifying the origin of cell-free DNA in bodily fluid samples. This patent family includes several pending and allowed applications in both the U.S. and Europe, addressing crucial health concerns such as fetal fraction, cancer detection, and organ monitoring. CEO Adi Mohanty expressed optimism about Roche's further development of the technology.
- Asset sale agreement with Roche Diagnostics for patent rights related to cell-free DNA.
- Potential for value realization from legacy assets.
- Transfer includes patent applications addressing critical health diagnostics.
- None.
SAN DIEGO, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Biora Therapeutics, Inc. (Nasdaq: BIOR), the biotech company that is reimagining therapeutic delivery, today announced it has completed a one-time asset sale agreement to assign certain patent rights related to methods for determining the origin of cell-free DNA to Roche Diagnostics. Financial terms were not disclosed.
The patent rights being assigned, which resulted from the company’s previous molecular diagnostics research and development efforts, are directed to methods and systems for determining the origin of DNA molecules in a cell-free bodily fluid sample. The patent family includes an allowed application in Europe (16802196.2), a divisional application in Europe (22203021.5), and a pending application in the U.S. (15/773,789). The applications describe the use of this technology to determine fetal fraction, to detect the presence of cancer, to detect transplant rejection, to monitor organ failure or tissue necrosis, and to diagnose heart disease.
“We are pleased that these discoveries related to the company’s former molecular diagnostics R&D efforts will be further developed by Roche,” said Adi Mohanty, Chief Executive Officer of Biora Therapeutics. “As Biora focuses on the progress of its therapeutics pipeline, we remain committed to ongoing efforts to realize value from our legacy assets in parallel.”
About Biora Therapeutics
Biora Therapeutics is the biotech company that is reimagining therapeutic delivery. By creating innovative smart pills designed for targeted drug delivery to the GI tract, and systemic, needle-free delivery of biotherapeutics, the company is developing therapies to improve patients’ lives. Biora envisions a world where patients have access to needle-free drug delivery and better therapeutic outcomes.
For more information, visit bioratherapeutics.com or follow the company on LinkedIn or Twitter.
Safe Harbor Statement or Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts included in this press release, including statements concerning the progress and future expectations and goals of our research and development efforts, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the negative of these terms, and similar expressions intended to identify forward-looking statements. These statements reflect our plans, estimates, and expectations, as of the date of this press release. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the forward-looking statements expressed or implied in this press release. Such risks, uncertainties, and other factors include, among others, our ability to innovate in the field of precision medicine, risks related to the supply and manufacturing of and complexity of components in our devices, our ability to obtain and maintain regulatory approval or clearance of our products on expected timelines or at all, our plans to research, develop, and commercialize new products, the unpredictable relationship between preclinical study results and clinical study results, our expectations regarding future revenue generating opportunities with current or future pharmaceutical collaborators, our ability to raise sufficient capital to achieve our business objectives, the ongoing COVID-19 pandemic, competition from other companies, and those risks described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC and other subsequent documents, including Quarterly Reports, that we file with the SEC.
Biora Therapeutics expressly disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact
Chuck Padala
Managing Director, LifeSci Advisors
IR@bioratherapeutics.com
(646) 627-8390
Media Contact
media@bioratherapeutics.com
FAQ
What patents did BIOR sell to Roche Diagnostics?
What are the potential applications of the patents sold by BIOR?
When was the asset sale agreement between BIOR and Roche announced?
What does the asset sale mean for BIOR's future?
