Allegro Diagnostics Enters License Agreement for Lung Cancer Molecular Testing Platform with Boston University and the University of Utah Foundation

MAYNARD, Mass.--(BUSINESS WIRE)-- Allegro Diagnostics today announced that the company has entered into an exclusive license agreement with Boston University and the University of Utah Foundation for intellectual property related to the company's molecular testing platform. This platform utilizes gene expression of normal epithelial cells in the respiratory tract to detect early signs of lung cancer. Financial terms of the agreement are undisclosed.

The "field of injury" principle on which the platform is based refers to the common molecular response that occurs throughout the respiratory tract in current and former smokers with lung cancer. These changes can be detected in a gene expression signature from non-malignant airway cells and indicate the presence of malignancy remotely in the lung. Allegro has applied this platform to generate multiple product candidates. The BronchoGenTM genomic test, which will be the company's first commercially available product, has the potential to be incorporated into standard bronchoscopy procedures to provide additional critical diagnostic information to support more rapid diagnosis and treatment.

"Allegro Diagnostics is committed to bringing early lung cancer detection to the standard of care. The licensing agreement with Boston University and the University of Utah Foundation helps us to achieve that goal by supporting our continued advancement of this breakthrough platform, including the planned commercial launch of BronchoGen in the first half of 2012," said Mike Webb, President and CEO of Allegro Diagnostics.

"We believe that Allegro's application of this platform to innovative genomic tests will change the future of diagnosing lung cancer, with the ultimate potential of saving lives," said Avrum Spira, M.D., M.Sc., Director of the Clinical and Translational Science Institute of Boston University and co-founder of Allegro. "We are pleased that technology developed at our institution may enable the early detection of lung cancer and therefore, we are excited to enter into this license agreement with Allegro."

About Allegro Diagnostics
Allegro Diagnostics is a molecular diagnostics company focused on the development and commercialization of innovative genomic tests for the diagnosis, staging and informed treatment of lung cancer and other lung diseases. Allegro has developed a molecular testing platform that utilizes a genomic biomarker to detect early signs of lung cancer in current and former smokers. The company's lead product is the BronchoGenTM genomic test for use in combination with standard bronchoscopy for the early diagnosis of lung cancer.

About Boston University
Founded in 1839, Boston University is an internationally recognized private research university with more than 30,000 students participating in undergraduate, graduate and professional programs. BU consists of 17 colleges and schools along with a number of multi-disciplinary centers and institutes which are central to the school's research and teaching mission. The Office of Technology Development licenses BU intellectual property to companies.