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Third Wave, Mitsubishi Form Joint Venture to Develop PGx-Based Diagnostics

Apr 06, 2006

NEW YORK, April 6 (GenomeWeb News) - Third Wave Technologies and Mitsubishi have formed a joint venture for personalized medicine in Japan and the Asia-Pacific region, the companies said yesterday.

 

The joint venture, Third Wave Japan, plans to develop products for the Japanese molecular diagnostic market, including tests for diagnosing infectious diseases and products to improve drug safety and efficacy.

 

Third Wave will hold worldwide rights outside the Asia-Pacific region to any new technology or product developed by Third Wave Japan.

 

Third Wave Japan and Mitsubishi also plan to accelerate the penetration of Third Wave's Invader products in clinical laboratories in the region, especially in Japan.

 

Mitsubishi has a 14-percent minority investment in Third Wave Japan. In addition, CSK Holdings, through its new subsidiary CSK Institute for Sustainability, will hold a 3-percent stake in the joint venture.

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