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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
British Airways revamps Avios scheme bringing down flight prices to £1With the new Avios part-payments scheme you can now bag a British Airways flight for as little as £1
-
RBS to close a fifth of branchesRoyal Bank of Scotland plans to shut 18 branches across Scotland, resulting in the loss of 105 jobs. We have the full list of closures.
