MEDFORD, N.Y., July 18, 2019 (GLOBE NEWSWIRE) — Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care (POC) diagnostics company focused on infectious diseases, today announced that it has entered into a collaboration with Shire Human Genetic Therapies, Inc., a wholly owned subsidiary of Takeda Pharmaceutical Company Limited, a global pharmaceutical company, to develop a novel POC diagnostic test to detect an undisclosed biomarker.
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.
About Chembio Diagnostics
Chembio is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases. The company’s patented DPP technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in approximately 15 minutes. Coupled with Chembio’s extensive scientific expertise, its novel DPP technology offers broad market applications beyond infectious disease, a number of which applications are under active development with collaboration partners. Chembio’s products are sold globally, directly and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers. Learn more at www.chembio.com.