WELLESLEY, Mass., June 3 /PRNewswire/ -- Xceed Molecular, a pioneer in the development of cost-effective, easy-to-use gene-expression analysis systems, has granted Gen-Probe Incorporated (Nasdaq: GPRO) and its affiliates a non-exclusive license to use Xceed's novel Flow-Thru Chip technology. Gen-Probe expects to incorporate the Xceed technology into its next-generation multiplexed molecular-diagnostics products. Gen-Probe is a global leader in the development, manufacture, and marketing of rapid, accurate, and cost-effective nucleic acid testing products for diagnosing human diseases and screening donated human blood.
Under the terms of the agreement, Gen-Probe will pay up-front licensing and milestone fees to Xceed for non-exclusive access to Xceed's Flow-Thru Chip technology in specific fields. Gen-Probe also has the right to obtain co-exclusive rights (with Xceed) in pre-defined sub-fields. In addition to continuing royalty payments, the agreement provides that Xceed will supply Gen-Probe with Xceed's custom TipChips, its Ziplex(R) automated gene-expression system, and other Xceed products. Additional terms were not disclosed.
"The Flow-Thru Chip technology is well suited for diagnostic tests and
we are pleased to have a market leader like Gen-Probe recognize its value
for inclusion in their multiplexing strategy," said Xceed President and
CEO, David Deems. "Multiplex molecular diagnostics is a burgeoning market,
and new tools are required as the era of 'personalized medicine' becomes a
reality. Simplicity, reproducibility, cost-effectiveness, and minimal
interaction time for lab personnel will be key to the routine adoption of
molecular diagnostics in the clinical lab. The Flow-Thru Chip and Ziplex
System will make this
|SOURCE Xceed Molecular|
Copyright©2008 PR Newswire.
All rights reserved