Corgenix to collaborate with Eli Lilly on diagnostic tech for oncology pipeline

By: Steve Wednesday May 22, 2013 0 comments Tags: Corgenix, Denver, Douglass Simpson, Eli Lilly

Corgenix logoDENVER - Corgenix Medical Corp. (OTCBB: CONX), a worldwide developer and marketer of diagnostic test kits, today announced it has entered into a collaboration agreement with Eli Lilly and Company (NYSE: LLY) to develop diagnostic technology in support of a Lilly oncology pipeline program.

Under the terms of the agreement, the two companies will collaborate to further advance this proprietary diagnostic technology originally developed by Lilly.

Financial terms of the agreement were not disclosed.

"We are very pleased to enter into this new and exciting collaboration with Lilly," said Douglass Simpson, Corgenix president and CEO. "This relationship strengthens our company's program of strategic alliances in key areas of laboratory and research medicine.

"The Lilly collaboration, in particular, opens a new door for Corgenix as we continue to explore this technology in global clinical research as potential new technology to meet the needs of oncology clinicians worldwide."

Corgenix said the Lilly collaboration is part of the company's recently announced expansion of its Contract Services Business Unit for contract product development, technology application and manufacturing for the health care and biotechnology industries.

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