US firm Biosite to use AGEN antibody
Monday, 01 December, 2003
Agenix (ASX:AGX) subsidiary AGEN BioMedical has licensed its D-Dimer antibody and associated intellectual property to US point-of-care diagnostics company Biosite.
Biosite will incorporate AGEN's D-Dimer antibody into its Triage Profiler SOB Panel, a diagnostic test it is developing that will help with identification of the cause of shortness of breath, a condition that can be caused by congestive heart failure, heart attack and pulmonary embolism.
The D-Dimer antibody measures a small protein resulting from the breakdown of blood clots, and studies suggest that the absence of circulating D-Dimer can exclude the presence of pulmonary embolism.
Agenix managing director Don Home said Biosite's plan was to add the D-Dimer to its existing cardiac panel to test five biomarkers, including BNP, D-Dimer, myoglobin, CK-MB, and troponin I, simultaneously in a rapid point-of-care test that would allow physicians to rapidly make a more accurate diagnosis.
While the terms of the deal remain confidential, Home said it included both an upfront payment and royalties, in addition to supply of the antibody. Sales of Biosite's current cardiovascular products have been worth US$111 million in the last four quarters, suggesting that royalty payments would not be insignificant. "It's a very nice deal for us, and a great deal for them," Home said.
He said the deal would give Biosite a head start over its competitors, particularly as it included the D-Dimer IP.
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