NEW YORK (GenomeWeb) – Canon USA said today that it has made a strategic investment in Canada's Spartan Bioscience to help fund the research and development of new diagnostic testing products.
Canon BioMedical, the recently established wholly owned subsidiary of Canon USA, plans to work with Spartan to develop future diagnostic products, including rapid genetic testing, Canon said.
Financial details of the investment were not disclosed.
Spartan, based in Ottawa, markets the Spartan RX CYP2C19, a US Food and Drug Administration-cleared rapid PCR-based test that screens for mutations in the CYP2C19 gene that affect the metabolism of common drugs.
Health Canada also granted regulatory approval to Spartan's platform, specifically for near-patient testing — a designation that it did not receive in the US.
Canon BioMedical was formed to manage several product development efforts previously underway at Canon US Life Sciences, including the development of an automated, high-throughput molecular diagnostics platform based on ultra-fast serial PCR and high-resolution melt analysis.
"Canon is excited to work with Spartan Bioscience on developing breakthrough technologies in the area of genetic testing," Seymour Liebman, executive vice president, chief administrative officer, and general counsel of Canon USA, said in a statement. "Spartan's goals align with our mission to provide enhanced diagnostic testing systems that can help improve human health worldwide."
Liebman will also join Spartan's board of directors, Canon said.