NEW YORK – Canadian firm Genomadix has entered into a collaboration with the Mayo Clinic to advance its point-of-care molecular analyzer technology.
The deal consists of a know-how license agreement and stock purchase agreement. Detailed financial terms were not disclosed.
Formerly known as Spartan Bioscience, Genomadix emerged from a restructuring in September.
The Mayo collaboration is intended to advance the firm's portable PCR-based diagnostics system, called the Cube, which generates results in approximately one hour.
"We are extremely proud to be collaborating with Mayo Clinic to progress our technology and mission to make highly accurate molecular testing available for the benefit of patients," Steve Edgett, Genomadix's CEO, said in a statement. "This collaboration seeks to seed new product developments with focused expertise provided by Mayo Clinic experts."
Mayo Clinic will use any revenue it receives through the collaboration to support its not-for-profit mission in patient care, education, and research, according to the statement.
The Genomadix Cube testing system has been used for environmental testing for Legionella bacteria in water sources and for CYP2C19 genotype-guided antiplatelet therapy in Europe. The firm said efforts are underway for US authorization of the CYP2C19 assay.
Genomadix has also developed a COVID-19 test that it expects to launch later this year, pending regulatory authorization.