08/06/2014

Integrated Technologies Ltd.

ITL client genomic vision announces €1.7m payment from quest diagnostics

Genomic Vision Logo

ITL client Genomic Vision, the world leader in molecular combing has recently announced a €1.7m payment from their development partner Quest Diagnostics.


Beginning in 2011, ITL and Genomic Vision worked together on the development of two prototypes of their high-throughput scanning and image analysis system for use with their molecular combing technology.


What is molecular combing?


Molecular Combing is a user-friendly technology for the direct visualization and analysis of single DNA molecules. DNA is stretched uniformly and attached to a specially-treated glass surface. This technology makes it possible to explore the whole genome at a high resolution in a single analysis. Genomic Vision’s products focus on DNA analysis and genetic testing in the fields of cancer, rare inherited disorders and pharmacogenomics.


Continued partnership to achieve funding milestones


Over the past year, Integrated Technologies Ltd have been working in partnership with Genomic Vision on the design and production of further pilot instruments.


In their press release, Aaron Bensimon, Genomic Vision’s co-founder and Chairman, says:


“I would like to thank all of our teams, as well as our external partners’ teams, who have contributed to us achieving these milestones defined within the framework of our partnership with Quest Diagnostics. Thanks to their high-quality work, we are in line with the schedule presented at the time of our IPO, which aims to equip Quest Diagnostics with our new high-throughput scanner by 2015 in order for it to be able to market the HNPCC and BRCA tests in the United States through its vast network of laboratories during the same year.”


Genomic Vision have just released their 2014 first half results which show revenues in line with expectations and their development plan.