NEW YORK (360Dx) – Chembio Diagnostics said today that it has entered a collaboration with LumiraDx to develop point-of-care diagnostic tests for infectious diseases to address "significant global health threats."

Chembio said that it will receive funding from LumiraDx subject to satisfying certain milestones. If the tests receive regulatory approval and are commercialized in accordance with the agreement, Chembio will obtain royalty payments on resulting product sales and sell reagents to LumiraDx.

Additional terms of the deal were not disclosed.