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Medicortex Finland, Pro-Lab Sign Agreement for Brain Injury Kit

NEW YORK (360Dx) – Medicortex Finland announced on Tuesday a deal with Pro-Lab Diagnostics aimed at commercializing Medicortex's brain injury detection kit in Canada and the UK.

Under the terms of the agreement Pro-Lab will shepherd the kit through the regulatory processes in Canada and the UK, as well as be responsible for clinical validation of the kit. Medicortex has granted Pro-Lab exclusive rights to sell the test in Canada and the UK in return for royalties.

The two companies also intend to initiate a development collaboration, the terms of which are still to be determined. Financial and other details of the agreement were not disclosed.

Medicortex's urine-based test is intended for use after a brain injury for the detection of a biomarker discovered and characterized by the Finnish firm. In a statement, it said that upon the development of the test, it plans to develop a drug to impede the progress of brain injuries.

Pro-Lab, headquartered in Ontario, provides immunodiagnostic products and distributes products in the clinical microbiology, molecular biology, and transfusion medicine markets, and others.