Spectral Diagnostics Inc. has announced that it has entered into a non-exclusive license and material supply agreement with Bio-Rad Pasteur S.A., a leader in the manufacturing and distribution of a broad range of products for the life science research and clinical diagnostics markets.
Under the terms of the agreement, Spectral will provide Bio-Rad with its leading single chain Troponin I reagents.
"We are very pleased to partner with a company of Bio-Rad's stature and market reach. Bio-Rad's readiness to partner with us is a testament to our ability to generate and commercialize products of high quality, value and utility," said Dr. Paul Walker, President and CEO of Spectral Diagnostics. "Most significantly, the consistent revenue stream over the term of the agreement will continue to provide our company with the non-dilutive capital necessary to focus on Spectral's core business, the commercialization of our FDA cleared EAA(TM) Endotoxin Activity Assay for the detection of endotoxemia and the subsequent risk for Sepsis."
Spectral's proprietary single chain Troponin I reagents are now in use by five major international reagent supply and instrumentation companies.