Zetiq Technologies and Biomics Biotechnologies Sign Collaboration Agreement
Collaboration agreement for the development and commercialization of screening and diagnosis technology of cervical cancer
Bio-Light announces the signing of a collaboration agreement between its subsidiary, Zetiq Technologies, and the Chinese company, Biomics Biotechnologies, whose expertise lies in the development and sales of medical and diagnostic products. This follows a memorandum of understanding signed between the two companies on 1st December 2009.
Collaboration between the two parties will take place in two stages: During the first stage Biomics Biotechnologies will be responsible for preparing for clinical trials and for the registration and regulatory approval process with the SFDA, the medical regulatory authority in China. According to the agreement, Zetiq will supply Biomics with an exclusive knowledge and patent license of the product in China, so as to enable Biomics to hold clinical trials and obtain registration and regulatory approval.
Upon successful completion of the regulatory approval, the second stage will ensue, whereby Biomics will be granted exclusive rights to market and distribute the product in China. The two sides have applied for funding of the collaboration by the Israel China Bi-national fund and received initial approval.
According to Dr. Adi Elkeles, CEO of Zetiq Technologies, "This collaboration agreement further demonstrates Zetiq's ability to commercialize its CellDetect technology."
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