Cellmid options cancer diagnostics tech

Cellmid (ASX:CDY) has secured an option agreement with Japan’s Fujikura covering its midkine cancer diagnostics technology in latex-based tests.

Japan’s Fujikura Kasel, a supplier of latex particles for the medical diagnostics industry, will evaluate incorporating Cellmid’s (ASX:CDY) anti-midkine diagnostic antibodies into its latex platform.

Under the agreement, Cellmid will be entitled to an initial fee as well as a further payment and royalties on future sales if the Japanese company exercises its option to license the technology.

The licence option is contingent on Fujikura achieving a limit of detection of at least 500 picogram/mL of midkine in serum on its latex diagnostics platform.

Most healthy people have midkine levels below this threshold, so a test with this limit of detection could be used to develop new cancer diagnostics products.

Announcing the deal, Celmid said its Midkine ELISA assay can detect midkine to a limit of 8 picogram/mL and that Fujikura aims to achieve a similar sensitivity on its latex platform.

Midkine serves as an early marker for a range of cancers and also has potential applications in prognosis and disease management.

Fujikura head of medical projects Dr Hideyuki Kuroda said a midkine diagnostics platform “lends itself to multiple, high-value product development opportunities”.

Besides commercialising midkine as a biomarker for cancer diagnostics, Cellmid is researching using its proprietary anti-midkine antibodies as a treatment for cancers, as well as diseases including diabetic nephropathy.

Cellmid (ASX:CDY) shares were trading unchanged at 2.2c as of around 1 pm on Monday.