NEW YORK – UK-based molecular diagnostics system developer QuantuMDx said on Tuesday that it has entered into a global R&D, manufacturing, and commercial partnership agreement with Sansure Biotech aimed at commercializing its Q-POC system and assays in China.
Financial terms of the agreement were not disclosed.
Sansure Biotech, an IVD diagnostics solutions provider based in Changsha in Hunan province, will have exclusive rights to Q-POC in China in return for licensing and royalty payments. QuantuMDx will also have exclusive rights to sell Sansure-developed assays outside of China.
The companies will further collaborate to accelerate the development of new assays on the Q-POC, and potentially on component sourcing and manufacturing optimization.
Jonathan O'Halloran, QuantuMDx's CEO, said in a statement that the firm expects to reduce its cost of goods through the agreement.
Jia Liu, VP of R&D at Sansure, said that the goal is to bring "precision healthcare solutions to Chinese patients with this highly innovative diagnostic platform and a tailor-made portfolio of assays."
QuantuMDx obtained the CE mark on a respiratory viral panel called the Q-POC SARS-CoV-2, Flu A/B & RSV Assay in May.
The firm, located in Newcastle upon Tyne, also received a £15 million ($20.3 million) equity investment from Hong Kong-based venture capital firm Vita Spring IVD Fund last year.