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NorDiag acquires exclusive rights to infectious disease technology platform
7 May 2008: NorDiag ASA has signed an agreement with the Russian company Bionom regarding rights to a novel method of genetic engineering that produces purified antigens for infectious disease testing - the method will be used to develop a panel of diagnostic tests for infectious disease testing.
The key feature of this technology is that it enables the ability to produce highly specific antigens for pathogens that are difficult to detect or diagnose. This will enable the development of improved diagnostics for diseases such as tuberculosis and lyme disease.
Testing so far is promising, with clearly the potential to develop cost-efficient high performance diagnostic assays.
- This method based on purified specific antigens can be a major opportunity for NorDiag in the diagnostic market for infectious diseases, says CEO of NorDiag, Mårten Wigstøl. - Together with Bionom we have technology and know how to develop tests that can outperform existing tests both with respect to performance and price. The low cost basis will enable us to sell the tests in the third world where current diagnostics are too expensive.
- Bionom has worked on this method for many years and we look forward to the diagnostics that will be developed. It is now ready to be commercialized and we are pleased to sign a contract with NorDiag in order to convert from technology to products, says CEO of Bionom Nikolai Kischlikin.
Following the license agreement NorDiag will set up a project to develop and commercialize the test. The Company will support a dedicated team of 5 highly competent researchers working on development and optimization at Bionom. The first products from the project will be introduced to the market in 2010.
The financial details regarding the deal will not be disclosed.
Contact:
CEO Mårten Wigstøl Phone. +47 911 65775
About NorDiag:
NorDiag is a biotechnology company developing, manufacturing and marketing of automated solutions, instruments and tests, for diagnostic of infectious diseases and cancer. The Company`s core competence is isolation of bacterial and human DNA from difficult clinical samples, and the Company has established a solid market share in the Scandinavian market for sexually transmitted infections. The company has similar applications for Tuberculosis and MRSA. An application for respiratory pathogens is under development. NorDiag is also developing a test that shall contribute to early diagnosis of colorectal cancer, as well as a test that shall contribute to optimal treatment of lung cancer patients. NorDiag was founded in 2003 and has its headquarters in Oslo - Norway. The company has offices and laboratories in Bergen - Norway, Stockholm - Sweden and West Chester (PA) - USA. The group has 34 employees. NorDiag is listed on Oslo Stock Exchange with the ticker NORD. For further information - www.nordiag.com
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