NEW YORK, Jan 11 – Third Wave Technologies has signed a development and commercialization agreement with BML, one of the largest clinical reference laboratories in Japan, to use its Invader DNA and RNA mutation detection system for pharmacogenomic and clinical testing, the companies announced Thursday.
Under the agreement, BML paid Third Wave $3 million up front, and agreed to provide $4 million in funding for Invader product development over the next three years. Third Wave will immediately retain the right to market and sell any products developed under the agreement outside Japan, and will later acquire rights to develop and market these products inside Japan.
" We are delighted about putting together a comprehensive alliance with Third Wave to address pharmacogenomic and clinical opportunities for nucleic acid analysis in Japan," Motoyoshi Arai, president of BML, said in a statement. " Because of its unique features, we believe that the Invader operating system promises to be a key component in making personalized medicine a reality."
Third Wave has signed a similar agreement with Specialty Laboratories in the U.S. It also has forged agreements with SmithKlineBeecham (now part of GlaxoSmithKline) to evaluate Invader for use in vaccine applications; the Sanger Center to build a SNP map of a human chromosome; Beckman Coulter to develop an integrated high-throughput SNP analysis platform; and Stanford and the University of Guelph to collaboratively develop the Invader technology.
Third Wave is planning to launch an initial public offering this year, as soon as market conditions are favorable.