VolitionRx Limited (NYSEAMERICAN:VNRX) announced Friday that Texas A&M University has taken roughly a 12.5% equity stake in its subsidiary Volition Veterinary Diagnostics Development LLC.
In a statement, Belgium-based company said that Texas A&M also will provide its expertise and conduct specified research and development activities.
Under the agreement, Volition (through its subsidiaries) said it will provide certain parts of its intellectual property associated with its proprietary Nu.Q platform and assays as well as an aggregate of $400,000 to the school and affiliated entities towards the collaboration.
Volition’s NuQ platform looks for molecular signatures of cancer by focusing on the nucleosomes – a section of DNA wrapped around a core of proteins – in the blood. As cancer cells multiply, they are modified in a way that distinguishes them from healthy cells and the traits of the malignant disease appear on the nucleosomes, which are analyzed by the platform.
The company and the university together have been studying a version of its blood-based tests for animals called Nu.Q Vet after discovering that nucleosomes in the blood can also be detected in dogs.
"The Texas A&M College of Veterinary Medicine & Biomedical Sciences is excited to be working with Volition to develop tests for the early detection of cancer and other diseases in animals," said Dr Eleanor Green, the Carl B King Dean of Veterinary Medicine at Texas A&M.
"The research and clinical trials conducted by CVM's veterinary oncologists work on the cutting-edge of medicine and have benefitted both humans and animals. The goal of this project with Volition is to provide all veterinarians with simple, affordable, routine blood tests that can help identify disease early and improve the lives of both animals and the people who love them."
CEO Cameron Reynolds noted he "enjoyed the hospitality of Texas A&M and (is) very impressed with the caliber of personnel and fantastic facilities in the veterinary school."
The company’s stock recently traded up 3.7% to $5.89 a share in New York.
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