Rhythm Biosciences Signs Distribution Deal With Pathology Company; Shares Up 10%
MT Newswires Live
Feb 17
Rhythm Biosciences (ASX:RHY) entered into a distribution service agreement with 4Cyte Pathology for its ColoSTAT diagnostic test for the detection of colorectal cancer, according to a Tuesday filing with the Australian bourse.
4Cyte will integrate ColoSTAT into its clinical ordering system across its network of patient collection centers in New South Wales, Victoria, and Queensland, with no minimum volume commitments or upfront payments under the deal, the filing said.
The deal has an initial three-year term and an option for a two-year extension by mutual agreement, per the filing.
Rhythm Biosciences shares rose nearly 10% in afternoon trade on Tuesday.
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