BETHLEHEM, Pa., Aug. 6, 2012 /PRNewswire/ -- Saladax Biomedical, Inc., a privately held company developing and commercializing novel diagnostic assays to achieve the promise of personalized medicine for new and existing therapeutics, announced today the company has expanded its existing relationship with Bristol-Myers Squibb Company (BMY) by entering into a Master Early Development Collaboration Agreement, which may include multiple feasibility studies and companion diagnostic development projects. With the signing of this agreement, the companies have already initiated a new companion diagnostic project in an undisclosed field. Terms of the agreement were not disclosed.

"Saladax is delighted to continue working with Bristol-Myers Squibb to deliver on the promise of personalized medicine," said Kevin M. Harter, president and CEO of Saladax. "Building on our previous work together, which resulted in clinically valuable Alzheimer's disease assays, we're eager to continue marrying the scientific and clinical knowledge of Bristol-Myers Squibb and Saladax to improve the lives of patients in other clinical areas."

Saladax and Bristol-Myers Squibb originally entered into a collaboration in 2010 for the development of clinical diagnostic tests for Alzheimer's disease to be used in conjunction with the development of certain therapeutic compounds in the Bristol-Myers Squibb pipeline. In 2011, that partnership was expanded to include a commercial partner, Johnson & Johnson's Ortho Clinical Division.

About Saladax Biomedical, Inc.

Saladax Biomedical develops novel diagnostic assays for the practical delivery of personalized medicine. Our proprietary line of MyCare assays improves the efficacy of existing drugs by optimizing the dose administered for each individual patient. Saladax's initial focus is oncology, with a portfolio of 13 chemotherapy drug assays in various stages of development. Three MyCare assays, My5- FU, MyPaclitaxel and MyDocetaxel, are currently offered to the oncology community in some markets.

The company's MyCare technology platform is broad and flexible, enabling wide application in many therapeutic categories. This technology capability also enables Saladax to serve as a valuable partner to pharmaceutical and biotechnology companies in the development of companion diagnostics (CDx), addressing multiple risks and challenges encountered in drug development.

The company was founded in 2004 and is headquartered in Bethlehem, Pennsylvania. Saladax is ISO 13485:2003 certified.

Saladax Biomedical, Inc.

Kevin M. Harter

President and Chief Executive Officer

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Saladax Biomedical Enters into Master Collaboration Agreement with Bristol-Myers Squibb

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