Dallas, Texas 08/13/2014 (FINANCIALSTRENDS) – Sequenom, Inc. (NASDAQ:SQNM) has entered into a license agreement with Mayo Medical Laboratories. Sequenom is known for its specialized genetic analysis solutions whereas Mayo is a key company in the field of esoteric laboratory services in the US. The two big firms have entered into an agreement related to the noninvasive prenatal testing applications and patents. The terms of the license agreement are not disclosed.
Commitment and expertise
CEO, William Welch said that Sequenom appreciate the Mayo Clinic’s commitment and dedication towards their key services including the research, patient care and innovation. The management is excited to enter into an agreement with the third-largest provider of clinical research laboratory services. It will help the patients to get access of the most-advanced revolutionary technology.
The noninvasive prenatal testing
Sequenom, Inc. (NASDAQ:SQNM) started the use of the innovative noninvasive prenatal testing some years back in 2011. It has introduced the MaterniT21™ PLUS laboratory-developed test for the fulfillment of the objective. The testing has been a boon for women. It helped approximately 250,000 pregnant women and more worldwide with high risk for fetal chromosomal abnormalities.
The supported testing
A joint committee formed of the Society of Maternal Fetal Medicine, and the American Congress of Obstetricians and Gynecologists supports the application of cell-free fetal DNA testing. It will act as primary screening option for pregnant women who are at increased risk of aneuploidy. The screening is an option for the women who had suffered from ultrasound abnormalities in pregnancy in the past.
A strong year
It is a good year for Sequenom, Inc. (NASDAQ:SQNM). It came up with its financial numbers last month. It reported the total revenues of $39.8 million in the second-quarter results. It was a sharp rise of 62% as compared to 2Q2013. The net earnings came at $0.04 per share comparable to the net loss of $0.27 per share in 2Q2013.