Tuesday, June 10, 2008

Xceed licenses colon cancer test tech

By Mass High Tech Staff

Xceed Molecular, a maker of molecular diagnostics, reports it has gained an exclusive worldwide license to a gene signature for colon cancer from the Moffitt Cancer Center.

Wellesley-based Xceed said it would work with the Tampa, Fla., cancer center to develop a test to predict patients’ prognoses related to colon cancer with more accuracy than current diagnostics. Xceed plans to conduct initial research and development of the colon-cancer test at its labs in Toronto, and clinical validation of the test is expected to take place at Moffitt, according to the firm.

Financial details of the deal between Xceed and Moffitt weren’t disclosed.

Moffitt officials said that colon cancer is the fourth most common cancer in the United States, with 100,000 new cases per year.

Founded in 2003, privately held Xceed has corporate offices in Wellesley and R&D operations in Toronto. The firm employs 40 workers.