Nanogen and Fisher Scientific expand molecular diagnostics R&D
collaboration
24 August 2006
San Diego and Hampton, N.H., USA. Nanogen, Inc. (NASDAQ:NGEN) , a
developer of advanced diagnostic products, and Fisher Scientific
International Inc. (NYSE:FSH) have expanded their relationship to include a
research and development collaboration in molecular diagnostics. The
collaboration agreement complements Fisher's equity investment in Nanogen
announced in March 2006.
Nanogen and Fisher agreed to share technology and patent rights
specifically for the development, manufacture and marketing of new molecular
diagnostic products. Under the agreement, Fisher Scientific may provide up
to $10 million in total during 2007 and 2008 for the research and
development of infectious disease and molecular diagnostic tests that will
be mutually agreed upon. The extensive knowledge, intellectual property and
capabilities of both companies will enable molecular diagnostic products to
be brought to the market more quickly.
Additionally, Nanogen and Athena Diagnostics, a wholly owned subsidiary
of Fisher Scientific International, have agreed to develop, manufacture and
market products based on Athena's proprietary biomarkers for research and
for in vitro diagnostic use. Athena has an extensive portfolio of unique
markers in the fields of neurology and endocrinology that it has
successfully incorporated into its testing service, several of which could
be incorporated into assays for use on Nanogen's microarray platform, the
NanoChip(R)400. Nanogen likewise has access to a wide range of markers that
could be used to create unique tests for the Athena Diagnostics testing
service.
"We see tremendous opportunities in molecular diagnostics and are pleased
to be expanding our presence in this rapidly growing market," said Leland
Foster, chief science officer for Fisher Scientific International. "By
fostering a collaboration between Nanogen and Athena and furthering
Nanogen's R&D efforts, we are advancing the abilities of both companies to
bring diagnostic products to the marketplace."
Howard C. Birndorf, chairman and CEO of Nanogen, added, "We are very
pleased to further develop our relationship with Fisher. Both companies
share the belief that molecular diagnostics will play a fundamental role in
the drive toward personalized healthcare, and we are excited to work
together in this endeavour."
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