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Nanogen, Princeton Biomeditech sign joint development pact
By Ted A. Knutson
Washington, Jan. 18 - Nanogen Inc. said it has entered into a development agreement with Princeton Biomeditech Corp. to continue the joint development of an in vitro diagnostic assay for NT-proBNP for use in the point-of-care market.
The development is being done under a license granted to Nanogen by Roche Diagnostics GmbH and which incorporates proprietary technology of Princeton Biomeditech.
The agreement calls for Nanogen to use commercially reasonable efforts to develop and produce reagents for use by Princeton Biomeditech in the joint product.
In addition, Nanogen must conduct, or contract with other parties to conduct, all clinical trials and other testing of the product to obtain government and regulatory approvals for its marketing and sale.
Nanogen will own the government and regulatory approvals for the joint product.
Princeton Biomeditech, in turn, is responsible for incorporating Nanogen Reagents into the joint product. Princeton Biomeditech has also agreed to use commercially reasonable best efforts to complete the development of a reasonably priced quantitative reader for use with the joint product to determine the amount of target analyte present in a patient sample, the "Reader," and to obtain government and regulatory approvals reasonably requested by Nanogen for the Reader.
Nanogen will fund 50% of the development cost of the Reader, up to an agreed upon maximum amount.
Princeton Biomeditech will own the government and regulatory approvals for the Reader.
Nanogen is a biotechnology company based in San Diego, Calif., that develops diagnostic products.
The announcement was made in an 8-K filing with the Securities and Exchange Commission.
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