Under terms of the definitive agreement, Toronto-based MDS will pay US$40 million for a 50 percent interest intellectual property assets related to current Applied Biosystems MALDI Time-of-Flight mass spectrometry systems and next-generation products that are currently under development. The payment also will give MDS a 100 percent stake in certain MALDI TOF product-related manufacturing and research and development assets.
The partners will contribute the MALDI TOF and related intellectual property to Applied Biosystems/MDS Sciex Instruments, a 50/50 joint venture of ABI and the MDS Sciex division.
As part of its responsibilities to the joint venture, Foster City, Calif.-based ABI will continue to market, sell, service, support, and provide research support to the MALDI TOF products, which currently include the Voyager instruments and 4700 Proteomics Discovery System. ABI also will continue to market, sell, service, and support various mass spec and software products currently sold by the joint venture.
MDS Sciex will assume primary research and development and full manufacturing responsibility for the MALDI TOF product lines. The firm will continue to provide research and development and manufacturing for products currently in the joint venture's portfolio.