Immunodiagnostic Systems (IDS), which produces manual and automated specialist diagnostic testing kits and instrumentation for the clinical and research markets, has unveiled what it described as a 'significant collaboration' with Diagnostica Stago, a French-based producer of coagulation and haemostasis diagnostic kits and instrumentation.
Following a successful feasibility project, IDS and Stago have established a collaboration partnership that will assist Stago in developing coagulation and haemostasis assays for use on the IDS-iSYS immunoanalyzer.
As part of this collaboration, Stago has also agreed to help fund IDS' development of the IDS-iSYS mark II instrument and eventually deploy it in their fields of expertise.
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IDS will be paid €3.5m in a series of milestone payments and Stago will also contribute €1.0m to the development of the IDS-iSYS mark II.
Both programmes are expected to take between two and three years to complete.
IDS said it also expects to earn revenues from the sale of instruments, ancillary products and royalties.
Patrik Dahlen, Chief Executive Officer of IDS, said: "Our collaboration with Stago reinforces our belief that the IDS-iSYS platform is one of the leading technologies in the field of specialty diagnostics. Stago is an excellent company with a great reputation in its areas of expertise and shares IDS' values of delivering high quality tests to the specialty IVD market. We look forward to working with Stago in the development of our respective next generation instrumentation platforms."
The share price rose 4.89% to 295p by 14:40.
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