NEW YORK (GenomeWeb News) – Response Biomedical today announced an exclusive agreement with Cremascoli & Iris to distribute Response Bio's RAMP cardiac products in Italy.
Financial and other terms of the deal were not disclosed.
According to a statement from the Vancouver, BC-based diagnostic test firm, Italy is the second largest market in Europe after Germany for cardiac point-of-care tests. In 2011 the market is anticipated to exceed $50 million with an annual growth rate of 5 percent through 2015.
Response Bio CEO S. Wayne Kay added that the company is seeking to expand its market presence throughout Europe, the Middle East, and Asia.
Response Bio's RAMP system consists of a reader and single-use disposable test cartridges. RAMP clinical tests are commercially available for the early detection of heart attack and congestive heart failure. In the non-clinical market, the tests are used for detecting West Nile virus and biodefense applications, such as on-site testing of anthrax, smallpox, ricin, and botulinum toxin. Other applications are under development, the firm said.
Based in Milan, Italy, Cremascoli & Iris specializes in point-of-care testing, anesthesia and ICU, and neonatalogy and gynecological products with a distribution network of hospitals, universities, and private clinics throughout Italy.