Alamar Biosciences Inc. announced Monday that it has formedan alliance with the Italian company Sclavo Diagnostics Srl todistribute Alamar's biomedical products throughout most ofEurope.
The letter of intent between the two companies also calls forthe joint development of future products, joint distributionrights and manufacturing rights. In addition, Sclavo willpurchase approximately 4-5 percent equity in Alamar(NASDAQ:ALMR) of Sacramento, Calif. The financial details ofthe alliance were not disclosed.
Sclavo will distribute Alamar's products for diseaseidentification and susceptibility testing in Italy, Germany,Switzerland, Austria, the Netherlands, Belgium, Luxembourg,Turkey and Greece. In turn, Alamar will distribute Sclavo'simmunoassay products in the U.S.
The two companies also expect to collaborate on thedevelopment of products in infectious disease diagnostics.
Alamar's stock closed unchanged Monday at $2.88 a share.
-- Jennifer Van Brunt Senior Editor
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