Chembio Diagnostics and Takeda Pharmaceutical to Collaborate

Chembio Diagnostics (NASDAQ:CEMI) has announced it has entered into an agreement with Shire Human Genetic Therapies, a subsidiary of Takeda Pharmaceutical Company (TYO:4502).

As quoted in the press release:

Under terms of the agreement, Chembio will receive funding from Takeda, subject to satisfying certain milestones, to develop a quantitative POC test utilizing Chembio’s patented DPP platform and hand-held optical analyzer. The development of the POC test will build upon Takeda’s technical research on a unique set of biomarkers and is expected to provide quantitative results in approximately 15 minutes from a small 10µL drop of fingerstick blood.

John Sperzel, Chembio’s Chief Executive Officer, commented, “We are thrilled to collaborate with Takeda, a global pharmaceutical company, focused on oncology, gastroenterology and neuroscience therapeutic areas plus vaccines. Through this collaboration, our goal is to leverage Chembio’s patented DPP^®platform and our joint scientific expertise, to develop and commercialize a novel point-of-care diagnostic test that can improve health outcomes globally.”

Chembio’s DPP platform is the same technology used for the company’s DPP HIV 1/2 Assay, which has achieved numerous regulatory approvals, including FDA-approval, CLIA-waiver, WHO prequalification, CE mark, and ANVISA approval.

Click here to read the full press release.