Proteome completes TB milestone
Tuesday, 17 June, 2008
Proteome Systems (ASX: PXL) has completed the preparations necessary to conduct a feasibility test of its collaborative agreement with Becton Dickinson (BD) to develop a new tuberculosis test.
PXL has defined a sample processing strategy for a proposed in-field diagnostics test. This achievement will trigger a further payment from BD once the feasibility stage has been completed.
If the feasibility tests are successful, BD will pay PXL both up-front and milestone payments for the right to co-develop and market the new test.
The tests promise to be much more accurate and rapid than the current method of testing for tuberculosis, sputum spear microscopy, which hasn't changed significantly in nearly 130 years.
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