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Patia Biopharma, Precision Diabetes to Collaborate on Diabetes Biomarker Development

NEW YORK — Patia Biopharma has partnered with Precision Diabetes to develop and commercialize new biomarkers for diabetes, the companies said on Wednesday.

Specific terms of the deal were not disclosed.

The companies are currently working together to commercialize each other's existing products and said they recently signed an agreement under which Raleigh, North Carolina-based Precision Diabetes is selling two of Patia's genetic tests — Diabetespredict for determining an individual's risk of developing type 2 diabetes and GDMpredict for evaluating gestational diabetes risk — in the US and Mexico.

Under a separate agreement, San Sebastian, Spain-based Patia is distributing Precision Diabetes' GlycoMark, a US Food and Drug Administration-cleared blood test for monitoring blood glucose variability in diabetics, in Europe and Mexico.

"In partnering with Patia … we are positioning the companies to be the leaders in precision diabetes diagnostics by bringing together both our unique diabetes test product portfolios and platforms which include commercialized tests and tests in development," Precision Diabetes CEO Eric Button said in a statement.