A Diagnostics & Imaging Week
Zyvex (Richardson, Texas), a molecular nanotechnology company specializing in micro and nanomanufacturing, micro-electromechanical systems (MEMS), and nanomaterials, has selected Diabetech (Dallas) as its medical device development and commercialization partner for a wireless sensor implant targeting real-time blood glucose levels in the body.
Diabetech provides the capability and patented technologies necessary to develop the patient's handheld device for not only displaying the glucose levels from the implant to the patient but also for automatically relaying that information in real time to GlucoDynamix, Diabetech's clinical management system.
Diabetech also will be responsible for commercializing this technology as part of its Virtual-Loop Program.
The collaboration is called Project GeNI, which stands for Glucose Nanobiosensor Implant.
Genesis Bioventures (GBI; New York) said it has signed exclusive worldwide sales, marketing and distribution agreements with Prion Developmental Laboratories (PDL; Buffalo Grove, Illinois) to commercialize the recently patented Rapid Prion-Detection Assay tests developed by PDL.
The Rapid Prion-Detection Assay is designed to test for prion diseases, such as "mad cow" disease, at the "point of kill" rather than in a laboratory. The assay is a rapid test strip that can be administered by trained individuals at slaughterhouses, with visual results produced in less than 30 minutes, the company said.
The agreement "immediately satisfies the short-term business objectives of both of our companies and concurrently allows us to focus our resources on continued science, technology and product development opportunities," said Robert Petersen, CEO of PDL. "We expect the net benefit of this agreement will result in faster time to profitability for the company."
The worldwide agreement is the aggregate of two agreements between GBI and PDL, one for exclusive rights in Canada and one for exclusive rights in the U.S., Japan, Europe and the rest of the world. They specify that GBI has the right to appoint and sell products to any sublicensee or similar reseller and both agreements are for a five-year period, with automatic three-year renewals.