9th Feb 2015 09:14
LONDON (Alliance News) - Diagnostics tools provider Avacta Group PLC on Monday said it has signed a commercial agreement with ProtATonce to develop and commercialise high performance multiplexed assays for the Luminex testing platform using Avacta's Affirmer reagents.
Under the deal it will provider Affirmers to ProtATonce, which will then develop Affirmer-based assays for use on the Luminex platform.
Avacta did not provide specific financial details on the contract, but said it would be entitled to a 50% share of future revenue derived from the Affirmer-based Luminex test kits, with an agreed annual minimum sales level.
"I have no doubt that if we are successful in developing Luminex assays with market leading degrees of multiplexing then these products will become very attractive to a number of larger commercial partners in this market," said Avacta Chief Executive Alastair Smith.
Shares in Avacta were up 0.4% to 0.703 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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