SmithKline/Incyte joint venture diaDexus will commercialize diagnostics based on SB discovery research.

Executive Summary

SB/INCYTE DIADEXUS JOINT VENTURE WILL COMMERCIALIZE DIAGNOSTIC applications of SmithKline Beecham's drug discovery research, SmithKline announced Sept. 3. The 50/50 joint venture, diaDexus, "has exclusive rights to develop diagnostic tests based on novel molecular targets and genetic alterations identified as part of SB's drug discovery efforts and from SB's collaboration with Human Genome Sciences," SmithKline said. Incyte and SmithKline are contributing $25 mil. in funding for the new company, as well as "various additional technologies and intellectual property rights in the diagnostic field," the companies said.