US-based Chembio Diagnostics has partnered with LumiraDx for the development of point-of-care (POC) diagnostic tests to detect infectious diseases.
As per the collaboration, LumiraDx will provide funding to Chembio, upon achievement of select milestones, to develop the new tests.
Chembio is set to leverage its DPP technology platform that is said to provide significant advantages compared to standard POC lateral-flow technologies.
In addition, the technology offers possibilities in sexually transmitted disease, tropical and fever disease areas, along with opportunities for technology partnerships.
Chembio Diagnostics CEO John Sperzel said: “We are excited about the collaboration with LumiraDx as it validates our scientific expertise and complements our DPP platform strategy.
“Through our joint efforts, we expect the new products to provide access to a broader customer base.
“In addition, we anticipate expanding our product portfolio by applying reagent biomarkers funded through this agreement to our DPP platform.”
Under the terms of the agreement, the regulatory approval, commercialisation and sales of the tests resulting from the alliance will fetch royalty payments from LumiraDx to Chembio.
Furthermore, Chembio will sell reagents to LumiraDx.
LumiraDx chairman and CEO Ron Zwanziger said: “We selected Chembio as our partner due to the company’s expertise in developing high-quality POC infectious disease assays, and we believe the commercial opportunity for both firms is significant.”
In December last year, Chembio formed a similar partnership with AstraZeneca to develop a new quantitative reader-based POC diagnostic test to identify an undisclosed biomarker. The 18-month agreement involved an up to $2.9m grant from AstraZeneca.