SB And Incyte Join Forces To Create Diadexus

SmithKline Beecham is making its second foray into the geneticdiagnostics field by setting up a joint venture company called Diadexus with US biotechnology group Incyte. It will be based in Santa Clara, California. SB and Incyte will each hold a 50% equity interest in Diadexus, which has been established as a limited liability company. Both partners will contribute a total of $25 million to the venture, together with various technologies and intellectual property rights.

The new venture has exclusive rights to develop diagnostic tests based on novel molecular targets and genetic alterations identified through SB's drug discovery programs and its collaboration with Human Genome Sciences, which dates back to 1993. HGS will then receive royalties from product sales.

Diadexus will focus initially on tests for disease detection, rather than risk predisposition profiling, with particular emphasis being given to new tests for improved diagnosis, staging and patient stratification in infectious diseases and oncology.