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Genefec market entry in India
Bergen 6 September 2006: NorDiag ASA has entered into an agreement with Manipal AcuNova Ltd. in India for marketing and distribution of NorDiag`s Genefec test for early diagnosis of colorectal cancer. Manipal AcuNova is a collaborative venture between AcuNova Life Sciences and the Manipal Group, which is India`s largest healthcare management group with some 1,500 physicians and a base of 1,5 million patients.
`The rapid economic growth in India fuels demand for high-end personal medicine and diagnostics, and the partnership with Manipal AcuNova will open a very large market for us. They have an impressive market reach covering all the major populated areas in India, and aim to tie up with smaller in-vitro diagnostics service providers for access to the smaller market segments`, says Christian Horn, CEO of NorDiag ASA.
NorDiag`s Genefec-test is currently only available in Scandinavia but is expected to be rolled out in the UK later this year and in other major European countries during 2007. The test is also being considered in several pilots for screening programs for colorectal cancer. A trial of shipping samples from India to Norway for DNA isolation has already been successfully completed. The first commercial shipment of samples from India is expected by the end of 2006.
`We have seen from our home market that its takes time to develop the markets commercially, and strong partners like Manipal AcuNova are necessary to educate both doctors and patients about the significant advantages of our product`, says Horn.
According to the agreement in India, the samples collected through Manipal AcuNova will initially be shipped for analysis at NorDiag`s laboratory in Bergen, with results electronically being submitted back to Manipal AcuNova. However, the establishment of a regional testing centre will be considered as volumes increase. Earlier this year, Manipal AcuNova received its ISO 9001:2000 certification and an award as the best emerging contract research organization from an independent survey by a US firm.
`We offer esoteric, high-end tests in India which provide additional insight to physicians for managing disease. Early disease detection and early diagnosis with the consequent lowering in the cost of treatment is a key goal that we pursue in cancer diagnosis. Nordiag has achieved clinical acceptance in the international marketplace with Genefec. Now we have collaborated for its introduction and acceptance in India. It is our constant endeavour to bring new drug therapies and devices to market with innovation and speed`, says DA Prasanna, Vice Chairman and Managing Director of Manipal AcuNova.
The venture was set up by NorDiag`s Indian partner PAC Med Biotech Pvt. Ltd., which specialises in establishing partnerships between foreign and Indian companies for the introduction of high-end pharmaceutical and diagnostic products in India. PAC Med will be responsible for importing the Genefec sample collection kits from NorDiag, maintaining adequate stock and provide sample kits to Manipal AcuNova and its subcontractors.
`People in India are increasingly demanding access to the very best and latest developments in cutting-edge health care products and services. The introduction of Genefec launches a new era in which ultra high-end diagnostic tests that rely on gene-based assays will become widely available to the general public in India`, says Amala Charan Chaudhuri, PhD, President & CEO of PAC Med.
For further information
Please see www.nordiag.no or contact; CEO Christian Horn in NorDiag ASA, tel: +47 9016 3153
About NorDiag
NorDiag is a biotechnology company focusing on early diagnosis of cancer. The company`s first product is Genefec for genetic diagnosis of colorectal cancer. The Genefec assay is a non- invasive test using faecal samples as specimen. The test is highly specific, easy to automate and currently used and reimbursed as a diagnostic assay in Scandinavia. NorDiag is listed on Oslo Stock Exchange under the ticker NORD. Please also see www.nordiag.no
About Manipal Group
The Manipal Group is worldwide renowned for its pioneering work in education and healthcare spanning the last five decades. Its Healthcare Division runs 11 hospitals with 1,250 doctors and 4,250 beds, 7 government associate hospitals with 2,565 beds, 7 rural health centres and 14 Medical Colleges with over 9,000 students and 275 faculty staff in India. With a total of 19 research sites, Manipal is the largest academic medical centre, treating 1,5 million patients with 1,500 physicians. Please also see www.manipalgroup.com
About Manipal AcuNova
Manipal AcuNova Ltd is a collaborative venture between the Manipal Group and Acunova. Manipal AcuNova is a comprehensive single source provider of clinical research and diagnostic services. Manipal AcuNova has access to the Group`s 19 research sites, which is Asia`s largest academic medical centre treating 1.5 mn patients with 1500 physicians. Awarded as India`s No 1 emerging CRO in 2005 by Proximare Inc. (A New Jersey based strategic consulting firm). Manipal AcuNova has research facilities in Bangalore, Mangalore and Manipal conforming to ICH GCP guidelines as well as wholly owned subsidiaries in the US and UK. Please also see www.acunovalife.com For details on the test in India, please contact, Palat Menon, MD, PhD crl@acunovalife.com Doctors seeking to prescribe the test may contact clientservices@acunovalife.com
About PAC Med
PAC Med is an Indian company that specializes in developing strategic alliances between foreign and Indian companies in the life sciences and health care sectors. PAC Med provides a multitude of services, including manufacturing, marketing, sales, distribution, clinical research, regulatory and legal services. Its geographical focus is on South Asia and the Indian subcontinent. The Business Development arm of PAC Med is located in Montreal, Canada. Please also see www.pacmed.ca