Nanogen partners with Menarini to market molecular diagnostic kits in Europe
12 November 2008
Nanogen, Inc. (Nasdaq: NGEN), a developer of molecular and rapid diagnostic products, has entered into an agreement with A. Menarini Diagnostics S.r.l., a division of The Menarini Group, the leading Italian pharmaceutical and diagnostics group, to commercialize CE marked IVD infectious disease kits based on Nanogen’s proprietary MGB technology.
The arrangement combines Nanogen’s strength in real-time PCR IVD product development with Menarini’s significant market presence in the major EU countries and their rapidly expanding reach into the developing Eastern European markets. Under the terms of the agreement the kits will be manufactured by Nanogen and branded as Menarini products.
The first products are expected to be introduced to the market in 2009 and will target infectious disease diagnostics.
“Molecular diagnostics is a high growth segment of the global IVD market and real-time PCR has become a gold standard diagnostic technology,” said Howard Birndorf, CEO of Nanogen. “We are pleased to have a partner like Menarini that can help bring our innovative technology to the $1 billion European market. We believe our strong technology and product capabilities together with Menarini’s local sales strength will open a new market and revenue stream for Nanogen and will make a highly competitive offering in Europe.”
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