Veravas, MIP sign agreement for improved diagnostics

16 March 2020 (Last Updated March 16th, 2020 14:28)

Veravas and MIP Diagnostics have signed a mutually beneficial agreement for the development, license, and supply of a MIP specific for Veravas' sample preparation technology.

Veravas, MIP sign agreement for improved diagnostics
The combination of Veravas and MIP Diagnostics’ technology will result in the creation of new products for diagnostic companies. Credit: Michal Jarmoluk from Pixabay.

Veravas and MIP Diagnostics have signed a mutually beneficial agreement for the development, license, and supply of a MIP specific for Veravas’ sample preparation technology.

With the agreement, Veravas aims to resolve the widespread issue of diagnostic interferences and difficulty in measuring biomarkers of low abundance.

The strategic partnership should enable the company to better diagnose and treat both rare and common diseases.

For MIP Diagnostics, which specialises in areas such as human healthcare, the agreement is part of its continued expansion strategy in diagnostics.

MIP Diagnostics Interim CEO Stephane Argivier said: “We are excited to work with Veravas on this joint approach to sample preparation and continue to expand further our MIP relationships for commercial applications in a diversity of market areas. This is another huge opportunity for the company to develop a long term highly profitable business with a remarkable partner.”

Veravas’ sample preparation technology combined with the technology and manufacturing capabilities of MIP Diagnostics in molecularly imprinted polymers (MIPs) is expected to develop novel products that will help diagnostic companies manage risks associated with test designs that are currently in use.

In the long run, the agreement could have an impact over existing methods and generate significant revenues for both companies.

Veravas CEO Carroll Streetman Jr said: “This new strategic relationship with MIP Diagnostics will allow Veravas to complete its biotin ecosystem of products and support IVD manufacturers in designing and developing assays that are minimally affected by biotin and other common heterophilic interferences.

“We consider this to be a valuable alliance as the combination of our two technologies supports Veravas’s efforts to bring novel diagnostic tests to market in the fields of neuroscience, bone and mineral metabolism, and cardiology.”