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June 5, 2013

Matrix-Bio options metabolite biomarker technology from Purdue University to evaluate opportunities for new cancer diagnostic tests

FORT WAYNE, Ind. - Matrix-Bio Inc., a diagnostics company that uses metabolite profiling to detect cancer and other diseases, has signed an exclusive agreement with the Purdue Research Foundation optioning metabolite biomarker technology and eight patent applications to evaluate the commercial potential of cancer diagnostics tests based on the technologies.

The optioned technologies include metabolite biomarkers for detecting esophageal, liver, pancreatic and colon cancer; for identifying liver cancer in patients with hepatitis C; and for predicting preoperative chemotherapy effectiveness for breast cancer treatment. Matrix-Bio's agreement is for one year with an option to extend the agreement. No other terms of the agreement were released.

The new agreement builds on the existing master license agreement between Matrix-Bio and Purdue Research Foundation for breast cancer biomarkers and metabolite profiling technology developed by Dan Raftery, Matrix-Bio chief scientific officer and founder, while he was a faculty member of the Purdue University Department of Chemistry. Raftery is now director of the Northwest Metabolomics Research Center at the University of Washington in Seattle, and is also a member of the Fred Hutchinson Cancer Research Center in Seattle, one of the world's leading cancer research centers.

Matrix-Bio CEO Eric Beier said the agreement will enable the company to significantly expand its pipeline of cancer detection and monitoring tests, further advancing the company's leadership in metabolomics-based cancer diagnostic technologies.

"Metabolite profiling is an emerging field of diagnostics that looks at the changes in small molecule biomarkers in cells. Patterns of these metabolite biomarkers in the blood are altered when cancer is present," Beier said. "Dr. Raftery's technology identifies metabolic changes with very high sensitivity and specificity, and can detect various cancers in early, more treatable stages more accurately than currently available tests. Studies have also demonstrated that metabolite profiling can assist in monitoring cancer treatment."

The announcement comes on the heels of an exclusive global licensing and marketing agreement for metabolomic biomarkers Matrix-Bio signed with Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services. Under the agreement, Quest Diagnostics has the rights to use the Matrix-Bio biomarkers for the future, potential development of a clinical lab-developed test to aid in the detection of breast cancer recurrence. Quest Diagnostics also has the option to pursue an appropriate regulatory pathway for an in vitro diagnostic version of the test. Additional terms were not disclosed.

About Matrix-Bio Inc.

Founded in 2006, Matrix-Bio Inc. is a life science company focused on the development and commercialization of advanced metabolite profiling-based blood tests for early cancer detection, recurrence detection, and therapy monitoring that offer greater accuracy, convenience, and lower cost than current testing methodologies. Matrix-Bio's patent-pending metabolite profiling technology has the potential to be leveraged to other applications for the early detection of disease and medical conditions. For information, visit www.matrix-bio.com.

About Purdue Research Foundation

The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts, administers trusts, funds scholarships and grants, and acquires property on behalf of Purdue. The foundation oversees the Purdue Office of Technology Commercialization, which operates one of the most comprehensive technology transfer programs among leading research universities in the United States. In the 1990s, the foundation was charged with helping the university in the realm of economic development. The foundation oversees the Purdue Research Park, which is the largest university-affiliated business incubation complex in the country.

Contacts:

Melanie Lux, Lux + Associates, 803-331-4794, mlux@luxandassociates.com

Steve Martin, Purdue Research Foundation, 765-588-3342, sgmartin@prf.org