Agilent Technologies Inc. reached an agreement with Incyte to support with companion diagnostics the development and commercialization of Incyte’s hematology and oncology portfolio.
Agilent is based in northern California and has a large operation in northern Delaware. Incyte has research and development labs at its campus and headquarters near Wilmington. Incyte employs about 1,500 in Delaware and adjacent areas of Pennsylvania.
The value of the companion diagnostics market is predicted to expand to nearly US $14 billion by 2030, driven in part by the power of the tests in treatment decisions for a growing range of cancers and other chronic diseases, a release stated. Developed for use with drug therapies, companion diagnostics are used to evaluate biomarkers and identify patients who are likely to benefit from treatment with the targeted therapeutics.
Incyte focuses on developing oncology drugs, including those treating rare forms of cancer that would benefit from Agilent’s disagnostics.
Paul Beresford, vice president and general manager of Agilent’s Companion Diagnostics Division, stated, “Leveraging the power of companion diagnostics, we are strategically transforming the treatment paradigm for a broad spectrum of cancers. By working together, Agilent and Incyte hope to expedite the development of innovative precision medicine products, potentially paving the way for enhanced patient health outcomes.”
Jeff Jackson, group vice president of Translational Medicine at Incyte stated, “Agilent’s expertise in the development of companion diagnostics is impressive, as is their regulatory and commercialization record. We are excited about the collaboration and look forward to working together to innovate in support of patients.”
