HTG Molecular Diagnostics inks master services agreement with Daiichi Sankyo; shares ahead 24% premarket

|About: HTG Molecular Diagnostics (HTGM)|By:, SA News Editor

HTG Molecular Diagnostics (NASDAQ:HTGM) announces that it has entered into a master services agreement with Daiichi Sankyo Company relating to HTG’s VERI/O laboratory. The initial project includes the development of a custom assay for the detection of nearly 3,000 mRNA targets using the HTG EdgeSeq technology.

The custom assay will be used to generate data from formalin-fixed, paraffin-embedded (FFPE) samples and it will be used to identify a tumor profiling assay for future studies under the agreement.

Daiichi Sankyo also has engaged HTG to process several hundred FFPE samples using the HTG EdgeSeq ALKPlus Assay EU in a research use only mode for exploratory research on new, potential therapeutic biomarkers.

Shares are up 24% premarket on modest volume.