Abcam Plc (NASDAQ: ABCM) disclosed Monday that it has decided to grow its strategic partnership with MEDx Translational Medicine. The expanded collaboration includes the co-development and marketing of key partners and in vitro diagnostic kits for MEDx to provide to the Chinese market.
MEDx believed that China is supporting the advent of high-accuracy medicine. This is generating extraordinary opportunities for the pharma and healthcare industry. This new cooperation extends its strong connection with Abcam. Both the firms will exploit their unified solutions to promote the development of groundbreaking diagnostic kits from target authentication to clinical investigation testing.
New Strategic Agreement
It has been declared that as per the newly extended agreement between the firms, both will jointly define the desired product profiles that will provide support for the expansion of accurate diagnosis for the chosen signs in China.
In compliance with the new agreement, Abcam will offer MEDx the ability to access the corresponding authenticated specific antibodies from their pipeline and collection and will co-create novel binders as deemed necessary. Furthermore, MEDx will be responsible for the execution of the advancement of these into companion diagnostics and in vitro diagnostic kits for broader marketing purposes.
Earlier the firm has joined forces in 2018 and this new deal is based on the previously signed collaboration agreement. Abcam disclosed that it is working to integrate its resources to discover and build high-quality recombinant monoclonal antibodies by leveraging the companion diagnostics development experience of MEDx.