ITUS Corp (NASDAQ: ITUS) shares rose Monday after the company reported a partnership with Serametrix for ITUS' Cchek.
The San Jose-based ITUS possesses the proprietary, AI-driven liquid biopsy cancer diagnostic technology, and is marrying Cchek technology to Serametrix's substantial expertise in immune monitoring assays. Serametrix flow cytometry and related data analysis services are already widely used in immunotherapy drug trials.
According to ITUS CEO Dr. Amit Kumar, "There is potential for tremendous synergy from the complementary expertise of ITUS and Serametrix. We believe that the additional capabilities provided by the Serametrix alliance will allow ITUS Corporation to expand the commercial opportunities of Cchek.
“Also, we believe that the application of our artificial intelligence expertise to Serametrix's flow cytometry immuno-profiling services will allow Serametrix to offer unique and superior capabilities unavailable to other laboratories."
Dr. Kumar continued, "As we develop our early cancer detection diagnostic, we expect this collaboration will create additional exposure of our technology to potential corporate partners.”
ITUS boasts that it is harnessing the body's immune system in the fight against cancer. Its wholly-owned subsidiary, Anixa Diagnostics Corporation, is developing the Cchek platform, a series of non-invasive blood tests for the early detection of solid tumor based cancers, which is based on the body's immunological response to the presence of a malignancy.
Shares in ITUS leaped 49 cents, or 15%, to $3.75, only minutes away from Monday’s closing bell, within a 52-week range of 60 cents to $6.43.