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HTS Signs Proteomics Licensing Deal with Mitsubishi

NEW YORK, Feb 5 – Proteomics company HTS Biosystems of Hopkinton, Mass., said Monday that Mitsubishi Chemical of Japan has acquired the exclusive rights to distribute in Japan its bioanalysis system for protein detection.

Financial terms of the deal were not disclosed.

Mitsubishi also acquired an exclusive license to HTS’ proprietary surface plasmon resonance array technology for Japan and bought an undisclosed number of research systems and chips.

Mitsubishi and HTS, a company which is 73 percent owned by Minnesota-based Quantec and 18 percent owned by Applied Biosystems, are jointly developing the products in order to commercialize them.

HTS has the exclusive right outside of the Asia/Pacific Rim to any technology developments Mitsubishi makes to the SPR system. In addition, Mitsubishi will purchase additional early access SPR array instruments and disposable chips for these instruments.

" Japan represents a very important and growing market for proteomics, and we believe Mitsubishi is well positioned to became a market leader,” Greg Freitag, CEO of HTS, said in a statement. “Through our joint efforts, we expect to introduce the SPR array product by the end of this year.”

Freitag was not immediately available for comment.

HTS has additional collaborations with Protein Sciences Corporation, Ciencia, and Boston Probes to develop systems and chemistries to detect molecular interactions and cellular changes.

HTS raised $1.9 million last July. The company previously said it plans to introduce its first product, the Flex Chip Kinetic Analysis System, in the second half of next year. The Flex Chip system uses HTS proprietary technology to enable real-time detection of biomolecular events without reporter labels.

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