14th Jan 2016 10:08
LONDON (Alliance News) - UK antibody specialist Bioventix PLC on Thursday said it will take a 10% stake in Scandinavian cardiovascular diagnostics start-up CardiNor AS, amid a broader agreement that will see the two companies collaborate.
Financial terms in relation to the 10% stake were not disclosed.
According to a statement, Bioventix will develop and provide antibodies for CardiNor's new Secretoneurin in-vitro diagnostics test.
Aimed at the estimated USD 4 billion cardiovascular risk assessment market, the assay is intended for launch in early 2017.
"Secretoneurin has the potential to provide a far better tool for selecting patients for cardiac rhythm management" CardiNor Chief Executive Dag Christiansen said.
Bioventix Chief Executive Peter Harrison said: "We have many years' experience of making high affinity sheep monoclonal antibodies for various diagnostic applications including cardiac markers. We believe that our technology and experience will add to the high quality of basic research that has resulted in the secretoneurin assay project."
Shares in Bioventix were up 0.2% at 1,257.00 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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