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Veravas, MIP Diagnostics Ink Sample Prep Agreement

NEW YORK – Sample prep and diagnostic test technology developer Veravas and molecularly imprinted polymers (MIP) specialist MIP Diagnostics announced Friday they have entered into an agreement to develop, license, and supply a novel MIP for Veravas' sample preparation technology.

The agreement is meant to facilitate the creation of novel products to help diagnostic companies manage risks associated with interferences in current test designs, such as biotin.

The agreement will "allow Veravas to complete its biotin ecosystem of products and support IVD manufacturers in designing and developing assays that are minimally affected by biotin and other common heterophilic interferences," Veravas CEO Carroll Streetman said in a statement.

Veravas' proprietary technology uses nanomagnetic particles to identify, measure, and remove substances from patient samples to reduce impacts of complex interferences and detect low-abundance biomarkers. Last month, the Charleston, South Carolina-based company raised $4 million in seed funding to expand R&D staff at the company, build product inventory, and continue commercialization activities.

MIP Diagnostics develops synthetic affinity reagents, such as nanoMIPs, linear MIPs, bulk MIP, and rationally designed polymers.

Biotin interference in lab results has been a concern of the US Food and Drug Administration recently, with the agency releasing new safety recommendations last year reminding labs of potential false results related to biotin interference. The American Association for Clinical Chemistry also issued guidance on preventing biotin interference in test results earlier this year.