LONDON (ShareCast) - AIM biotech Proteome Sciences has been signed up to provide to develop diagnostic products for Alzheimer's disease group Genting TauRx Diagnostic, worth $2m in upfront and milestone payments.
Proteome's biomarker services division will analyse blood samples from patients enrolled in a phase 3 trial of the GTD's experimental Alzheimer's drug LMTX, targeting the tau pathway, and from age-matched controls.

LMTX is being developed by TauRx Therapeutics for the treatment for Alzheimer's disease of mild to moderate severity.

GTD will receive a license to Proteome Sciences' existing blood biomarkers for Alzheimer's disease and both parties will share commercialisation rights of the diagnostic assays developed.

Proteome's chief operating officer Ian Pike said: "Having tests that can reliably detect the disease, select the right patients to receive LMTX and monitor their response will be critical in ensuring more people can benefit from this potentially ground-breaking treatment."

He said the company's proprietary proteomics services and track record in discovering and developing Alzheimer's disease biomarkers was a key factor in GTD's decision.

Proteome shares were up 3% to 39p by 16:20 on Thursday.

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