GLG Pharma signs license agreement with a University and Medical center for the non-exclusive use of ovarian cancer cell culturing media and ovarian cancer cell variants. The license will be used with its development partner Precision Therapeutics subsidiary TumorGenesis. GLG is responsible for incorporating the new media into its proprietary Gx-C3 technology to help categorize patients and select the best oncology treatment combinations and doses from the FDA drug combination aspect of the business. TumorGenesis is focused on the Clinical Research market for clinical trials and the discovery and development of new drugs. Richard Gabriel, COO & Cofounder of GLG Pharma is also on the board of directors for Precision Therapeutics and has been asked to help build out the TumorGenesis technologies for the CRO market. GLG are partnered with Precision Therapeutics to advance these new technologies. Market opportunities are estimated to be substantial for CRO and for GLG's combination therapies to inhibit ovarian drug resistant tumors. 14 ovarian tumor types, representing 90% of ovarian cancers will be tested and new markers identified.
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