Bar Harbor BioTechnology plans to launch a new division focused on molecular diagnostics and personalized medicine. This new division will create genetic diagnostic tests that determine an individual’s risk of developing a disease. In 2009 the company made a breakthrough using its technology that allowed it to generate a statistical prediction of a person’s susceptibility of developing a disease. The first test will be for colorectal cancer and is scheduled to be completed in January 2011.
Robert Phelps, CEO of Bar Harbor BioTechnology, says the company has already started work on similar tests for Alzheimer’s disease, Prostate Cancer, and Lupus. He stated that the company has contacted the FDA seeking guidance regarding the manufacturing of these new tests and plans to work closely with the agency as new regulations are being developed for the genetic testing market. For now the company is reviewing its financial options to fund the new division which has a long term goal of creating a federally certified laboratory to conduct these tests for point of care physicians.
Source: Bar Harbor Biotechnology
