Lunglife strikes strategic partnership with Circulogene Theranostics
By Iain Gilbert
Date: Thursday 17 Apr 2025
(Sharecast News) - Clinical diagnostics firm Lunglife said on Thursday that it has entered into a conditional exclusive license agreement for the commercial distribution of its LungLB test in the US.
Lunglife said the agreement with liquid biopsy diagnostics outfit Circulogene Theranostics meant it will "shortly" receive an advance payment of $375,000, with a further $375,000 set to be received following completion of the agreement.
From completion, Circulogene will have the exclusive right and license to improve, further develop, utilise, practice, market, distribute, offer for sale, sell and otherwise commercialise the LungLB test along with all software and intellectual property in the United States and its territories.
Lunglife will receive royalty payments equivalent to 20% of net revenues collected by Circulogene in relation to the LungLB test for the first year, with a guaranteed minimum payment of $450,000 over the first three quarters of the current trading year.
Chief executive Paul Pagano said: "The search for a strategic partner was a key focus of 2024. We were greatly encouraged by the strong interest shown by a number of parties and we are delighted to have found a commercial partner that shares our vision for the test and are excited to be in a position to move towards accelerating getting LungLB into the hands of clinicians. We look forward to working with Circulogene as we move towards our vision of enabling 80% of lung cancers to be identified early."
As of 1045 BST, Lunglife shares had surged 300% to 3.60p.
Reporting by Iain Gilbert at Sharecast.com
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