NEW YORK (GenomeWeb News) — Swedish genetic and chemical-analysis company Biotage has made a move into the molecular-imaging market through a collaboration with McMaster University that relies on SPECT/CT and PET/CT imaging technologies, the company said today.
Biotage said it entered the collaboration with the Ontario-based research university in February, but did not disclose terms of the partnership.
The company said SPECT/CT and PET/CT modalities “are well aligned to Biotage’s core competencies,” including synthesis, purification, and evaporation, the company said.
McMaster said on its website that its Institute of Applied Radiation Sciences will work with Biotage “to develop a new chemistry platform to speed the production of molecular imaging and therapy agents.”
CEO Torben Jorgenson said he expects that its early efforts in developing its molecular imaging “will accelerate the growth” of Biotage.
Jorgenson told GenomeWeb Daily News yesterday that this collaboration does not represent a shift away from the company’s core competencies, but is expected to add to and complement current platforms.
“Once we develop a few more consumables we foresee a major takeoff for bundled offerings in 2009,” Jorgenson said.
“We’re sending a message to the market that we’re moving this way,” Jorgenson added.
Financial terms of the agreement were not released.