AstraZeneca and Dako Denmark have entered into an agreement to develop companion diagnostic tests for multiple AstraZeneca oncology projects.

The projects cover biologics and small molecules in various stages of development and discovery.

The companies will work together to develop diagnostic tests to help physicians determine the most appropriate cancer treatment for patients.

Dako Denmark chief executive officer Lars Holmkvist said it is important for pharmaceutical and diagnostic companies to combine their expertise.

“Targeted treatment with personalised medicine is the future, and the outcome of this collaboration will be beneficial not only for cancer patients, but is also a significant contributive factor in cutting healthcare costs,” Holmkvist said.