Abstract: The present invention relates generally to the field of diagnostic and prognostic assays such as diagnostic assays for conditions associated with telomerase activity. More particularly, the present invention provides an assay for measuring telomerase activity as an indicator of cancer, an inflammatory disorder and/or a condition involving embryogenesis and/or requiring stem cell proliferation and agents and kits useful for same. Automated and partially automated assays permitting high throughput screening also form part of the present invention. The subject invention further contemplates methods of treatment using agents identified by the subject assay or where treatment protocols are monitored by the assay.