Lexon acquires lung cancer assay via Cancer Diagnostic Inc purchase:
This article was originally published in Clinica
Executive Summary
Lexon, a diagnostic company in Tulsa, Oklahoma, has obtained exclusive rights to its Telomerase Assay, a patent-pending blood test for lung cancer, through the $200,000 acquisition of Cancer Diagnostic Inc (CDI), a division of the Plant City, Florida-based company, Utek. The assay came from research conducted at the University of Maryland, Baltimore Medical Center, by Dr Edward Highsmith, who will continue to oversee research and commercialisation. Lexon also owns exclusive rights to the Ebaf Assay, a blood test for colon cancer screening. The acquisition - in cash and notes - was made in lieu of the previously announced merger of CDI into Lexon and eliminates the requirement under the merger agreement to issue 500,000 shares to CDI.