Patia and Precision Diabetes, Inc. Announce Strategic Alliance to Commercialize Precision Diagnostics for Diabetes

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Oct 07, 2020, 07:00 ET

SAN SEBASTIAN, Spain and RALEIGH, N.C., Oct. 7, 2020 /PRNewswire/ -- Patia Biopharma, SA, and Precision Diabetes, Inc. are pleased to announce they have entered into a global strategic alliance to transform the diagnostic assessment of diabetes by providing a portfolio of novel precision diabetes diagnostics, spanning the risk of developing diabetes to developing complications.

The strategic alliance builds on a collaboration between the two parties over the past few years. The companies currently collaborate on marketing initiatives to commercialize two diabetes genetic tests, DIABETESpredict^® and GDMpredict^®, and an FDA-cleared and CE-marked test for glycemic variability, GlycoMark^®. Precision Diabetes signed a distribution agreement with Patia to distribute GlycoMark^® in Europe and Mexico, and Patia recently signed a partnership agreement with Precision Diabetes to commercialize DIABETESpredict^® and GDMpredict^®in the United States. The two companies are working together to commercialize these tests in other major markets worldwide.

"The Patia-Precision Diabetes partnership is a powerful combination. Both companies continue to develop innovative diabetes tests, which will help physicians take a proactive approach to preventing, diagnosing, and managing diabetes," said Laureano Simon, Patia's CEO. "We recently introduced DIABETESpredict^® in selected laboratories in the U.S. with the assistance of Precision Diabetes, which continues to provide commercial support. The test provides a powerful clinical tool to physicians to determine the genetic risk of developing type 2 diabetes and potentially avoiding the onset of diabetes in the first place."

"In partnering with Patia Diabetes, we are positioning the companies to be the leaders in precision diabetes diagnostics by bringing together both our unique diabetes test product portfolios and platforms which include commercialized tests and tests in development," said Eric Button, Precision Diabetes' CEO. "Our tests allow clinicians to understand where a patient falls on the diabetes disease continuum, enabling them to create effective treatment plans specific to each patient's unique risk profile – which is at the core of precision diagnostics."

Both companies look forward to collaborating on developing and commercializing additional biomarkers for diabetes and expanding the strategic alliance.

About Patia

Patia has developed a platform of solutions to prevent, manage and intervene in type 2 diabetes and gestational diabetes. Patia uniquely and cost-effectively integrates a set of high-performance genotyping tests with predictive algorithms, digital applications and lifestyle intervention.

Patia's activity starts by translating the knowledge of large genetic studies on diabetes performed at the Broad Institute of Harvard University and MIT (Cambridge, MA, USA). More information is available at www.patiadiabetes.com.

About Precision Diabetes, Inc.

Precision Diabetes, Inc. (Raleigh, North Carolina) is an emerging leader in enabling precision medicine for diabetes by using novel diabetes biomarkers and algorithms. The company's mission is to revolutionize the diagnostic assessment of diabetes by providing a spectrum of unique diabetes tests, spanning the risk of developing diabetes to developing diabetes complications. Precision Diabetes is the exclusive supplier of the GlycoMark^® test in the U.S., Europe, Australia, the Asia-Pacific Region, the Middle East, and Mexico. More information is available at www.precisiondiabetesinc.com.

MEDIA CONTACTS

Jacqueline Madejczyk
Precision Diabetes, Inc.
919-480-0754
[email protected]

Jaime Razkin
Patia Biopharma, SA
34 652 966 776
[email protected]

SOURCE Precision Diabetes, Inc.