NEW YORK, Feb. 22 - Start-up systems-biology company Beyond Genomics on Friday said that Micromass UK Limited, a wholly-owned subsidiary of Waters, will supply its leading mass spectrometry technologies in its own systems biology drug-discovery platform.
Terms of the deal call for Waters to make an equity investment in Beyond Genomics in exchange for provisions that Beyond Genomics will buy Micromass products. The agreement also says that Micromass will have the option to license certain IP from Beyond Genomics.
Financial details of the agreement were not disclosed.
From Micromass' perspective, the collaboration offers access to technologies and analytical strategies that will help it develop mass spectrometry products, according to Micromass.
"Strong technology partners are critical to the continued development and success of our drug discovery research programs," said Stephen Ober, Beyond Genomics' president.
Earlier this month, Beyond Genomics' completed an $11 million round of equity financing, bringing to $21 million the total equity financing has raised to date. Last week the company and DiaDexus announced an agreement to identify new biomarkers and drug targets for colon, breast, and ovarian cancer.