Acrongenomics on Track to Acquire Molecular Vision
Acrongenomics, Inc. have agreed with Molecular Vision and The Imperial Venture Fund a time line for the full acquisition of Molecular Vision. Following the initial acquisition of 10.9% of the shares of Molecular Vision announced earlier this month, it has now been agreed by all parties that the full acquisition of Molecular Vision will be completed before the end of Q1 2008.
In May 2006, Acrongenomics first identified the combination of microfluidics and light responsive polymers being developed by Molecular Vision as having the potential of completely revolutionising the Point of Care (PoC) diagnostics market. In a simple to use compact hand held device the analytical capabilities of a number of standard pieces of laboratory equipment can be duplicated. This means that a very wide range of diagnostic tests based on the same procedures that are used in the laboratory, will now be available to be undertaken in a physicians office, or even in the field if you were, for example, trying to identify an outbreak of infectious disease in farm animals. This wide utility was identified by Acrongenomics and resulted in them investing US $ 4.6 million in Molecular Vision in order to build a prototype of the hand held device and undertake trials comparing the results obtained with the device with those obtained from standard pieces of equipment routinely used in Pathology Laboratories. The results of comparative trial measuring creatinine in urine will be presented comparing the Molecular Vision device with the Siemens DCA 2000.
According to the company, these results have shown good correlation. A further comparative trial measuring vitamin C is underway and various blood based tests are being planned. Once these comparative trials are completed, the company will then commercialise the first diagnostic panel to monitor kidney function, followed by vitamin C monitoring.
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