The writing was on the wall for bioMérieux back in September last year, as evidenced by their half yearly.
I guess they just couldn't make it work.
Yet Philips managed to have a promising trial announced in April 2014, makes you wonder how they did it without bioMérieux, who spent over 3 years trying to crack it.
It must be a bit embarrassing for both Philips and bioMérieux, having spent all that time (of Philips patent rights on the magnotech device) and money, only to be shown the door.
"Partnership with Philips in automated Point-of-Care
In January 2010, Philips and bioMérieux began collaborating to jointly develop fully automated handheld diagnostic testing solutions for hospital use that can be deployed at the point-of-care– i.e. close to the patient.
Given the challenges encountered in developing Troponin solutions delivering performance comparable to central laboratory analyzers, both partners have signed an addendum to the original agreement.
It provides that Philips will separately pursue development of the Troponin assay and system. bioMérieux will discontinue its own assay development during this development period, but provide an undisclosed level of funding toward the development.
In addition, this addendum maintains bioMérieux’s rights to re-engage on a non-exclusive basis, until March 31, 2014."
ADO Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
