Project to Develop Midkine Latex-Based Assays to Proceed

This protein modulates many important biological interactions such as cell growth, cell migration, and cellular adherence. These functions are relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair, and wound healing. This biomarker is barely detectable in healthy adults and only occurs as a consequence of the pathogenesis of a number of different disorders. Midkine expression is often evident very early in disease onset, even before any apparent physical symptoms. Accordingly, it is an important early marker for diagnosing cancers and autoimmune diseases. As midkine is only present in a disease context, drugs designed to target midkine should not harm normal healthy tissues.

The plastics manufacturer Fujikura Kasei Co Ltd. (Tokyo, Japan) has agreed to exercise its option to license the specific antibodies that comprise the midkine (MK) diagnostic technology represented by Cellmid Limited's (Sydney, Australia) midkine ELISA kit. This decision was based on Fujikura having successfully reached an accuracy of 500 pg/mL of midkine with its latex diagnostic platform using Cellmid’s antibodies. The agreement is expected to grant exclusive rights to Fujikura to use Cellmid’s proprietary antibodies for latex based tests. Product development and marketing costs will be borne by Fujikura, and Fujikura will pay royalties on products sold.

"We are pleased with the progress of our project with Cellmid and looking forward to developing and marketing a number of cancer diagnostic products using midkine as a key marker on our platform," said Dr. Hideyuki Kuroda, head of the medical project division at Fujikura.

Maria Halasz, CEO of Cellmid, said, "I am impressed by Fujikura’s technical skills in developing a latex based midkine test. With Fujikura’s strong focus on building market share in proprietary cancer tests our MK diagnostic technology is in good hands."

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Fujikura Kasei Co Ltd.

Cellmid Limited's