NEW YORK (GenomeWeb News) – Australian diagnostics and biopharmaceutical firm Agenix announced today it is licensing a rapid point-of-care diagnostic technology from Tyrian Diagnostics for development of a microarray device.
Agenix will use Tyrian's DiagnosticIQ platform for human applications. Bayer CropScience currently licenses the technology for agricultural applications.
Agenix is providing Tyrian A$500,000 (US$517,000) in shares of its stock to be paid in installments through June 2014.
DiagnosticIQ comprises a disposable test device that can be used alone or with the DiagnosticIQ Reader. Agenix plans to develop a microarray device based on the technology, which would allow human health diagnostic tests to be processed on the one system, Agenix said.
The terms of the deal also provide Agenix a patent for Tyrian's antibody-based test for active tuberculosis.
"This acquisition advances our product pipeline and adds to our human health diagnostics business," Agenix Chairman and CEO Nicholas Weston said in a statement. "We now have a platform for human health arrays and microarray technology developers globally, as well as a medical device product for our expanding China business."
Based in Melbourne, Australia, Agenix also has a subsidiary, Agenix Biopharmaceutical, based in Shanghai.