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QIAGEN (QGEN), Sysmex Ink Cancer Companion Diagnostics Deal

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QIAGEN N.V. (QGEN - Free Report) recently entered into a global strategic alliance with a Japan-based clinical laboratory systemization and solutions provider, Sysmex Corporation. This alliance focuses on the development and commercialization of cancer companion diagnostics, which is expected to advance QIAGEN’s foothold in the cancer companion diagnostics space and Sysmex’s Plasma-Safe-SeqS technology for next-generation sequencing (NGS).

Notably, QIAGEN has a longstanding partnership with Sysmex. Previously, the companies collaborated to provide the ipsogen JAK2 blood-cancer test in Japan.

Benefits of the Alliance

The latest alliance will combine QIAGEN’s global reach with Sysmex’s NGS capabilities to progress with the usage of NGS technologies in clinical decision-making, creating significant benefits for pharmaceutical companies and patients globally.

The global alliance with Sysmex is intended to boost QIAGEN’s co-development of companion diagnostics for cancer drugs with pharmaceutical companies and to promote early clinical adoption of ultra-sensitive liquid biopsy companion diagnostics.

For investors’ note, liquid biopsy addresses the constraints related to traditional analysis of solid tumors. When combined with sensitive NGS, liquid biopsy permits the evaluation of cancer patients at different points of their treatment to identify the genes responsible for the development and spread of tumor, enabling doctors to adjust treatments accordingly and to develop novel targeted therapies.

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For Sysmex, the latest alliance is expected to expand its Plasma-Safe-SeqS technology worldwide. This technology is capable of identifying gene mutations of cancer in blood with ultra-high sensitivity.

QIAGEN’s Stride in Growing Oncology Space

Per a report published in Grand View Research, the global oncology companion diagnostic market size is expected to see a CAGR of 12.7% from 2020 to 2027. Factors fueling market growth include evolving role of oncology companion diagnostics in next-generation genomics; economic benefits coupled with reduced clinical trial timelines; and increased co-development of drugs and diagnostics by key pharmaceutical and diagnostic developers following the FDA’s issuance of “In Vitro Companion Diagnostic Devices” guidance.

In this regard, QIAGEN has collaborated with pharmaceuticals and biotechnology companies to co-develop companion diagnostics based on technologies ranging from NGS to polymerase chain reaction. QIAGEN’s portfolio includes 10 FDA-approved PCR-based companion-diagnostics products, including therascreen EGFR, therascreen KRAS, therascreen FGFR, therascreen PIK3CA and the therascreen BRAF kit. At present, QIAGEN is working with more than 25 companies to develop and commercialize companion diagnostics for drugs in development to advance precision medicine and benefit patients.

Other Recent Developments

In June 2021, QIAGEN entered into a commercialization partnership with Verogen to provide customers with superior tools and comprehensive support for human identification (HID) workflows in their laboratories. The deal gives QIAGEN the rights to distribute the Verogen portfolio globally. Its builds on QIAGEN’s forensics leadership by allowing the company to offer Verogen’s preeminent HID sequencing and analysis solutions that operate on MiSeqFGx sequencers from Illumina.

In the same month, QIAGEN launched two new additions to its portfolio for CRISPR applications, the QIAprep& CRISPR Kit and CRISPR Q-Primer Solutions. The new solutions enable researchers to analyze edited genetic material with great speed and efficiency.

In May 2021, QIAGEN collaborated with Mirati Therapeutics Inc. to accelerate the development of a tissue-based KRAS companion diagnostic that detects cancer patients with KRASG12C mutation. The agreement is initially intended to identify non-small cell lung cancer patients eligible for Mirati’s innovative investigational cancer drug, adagrasib, a selective and potent oral inhibitor of KRASG12C.

Share Price Performance

The stock has outperformed its industry over the past year. It has grown 14.4% against the industry’s decline of 1.7%.

Zacks Rank and Key Picks

Currently, QIAGEN carries a Zacks Rank #3 (Hold).

A few better-ranked stocks from the Medical-Biomedical and Genetics industry include Adaptive Biotechnologies Corporation (ADPT - Free Report) , BioMarin Pharmaceutical Inc. (BMRN - Free Report) and BioTechne Corp (TECH - Free Report) .

BioTechne, which carries a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 21%.You can see the complete list of today’s Zacks #1 Rank stocks here.

BioMarin, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 31.7%.

Adaptive Biotechnologies, currently sporting a Zacks Rank #2, has a long-term earnings growth rate of 4.3%.

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