SINGAPORE (Feb 20): Biolidics Limited has established a strategic partnership with Sysmex Corporation, a Tokyo Stock Exchange-listed supplier of hematology instruments, to collaborate on the development of laboratory assays in the field of circulating tumour cells.
See: Biolidics selling 27.5 mil new shares at 28 cents each in conjunction with Catalist listing
The endeavor will use Biolidic’s ClearCell FX1 System and Sysmex’s molecular imaging flow cytometer MI-FCM in Japan and Singapore, respectively.
Under the non-binding term sheet signed by both parties today, Biolidics and Sysmex intend to laboratory assay developments, applications and market developments for the potential commercialisation of these laboratory assays.
In a Wednesday filing, Biolidics says its ClearCell FX1 System has the potential to serve as a platform technology for the diagnosis, prognosis, treatment selection and treatment monitoring of various types of cancers, through the development of a wide range of clinical or laboratory assays.
With Sysmex as a strategic partner, the group believes this will enhance the commercial scalability of its technology and allowing the ClearCell FX1 System to be used in a greater number of hospitals and laboratories globally – in line with its key business focus of developing end-to-end diagnostic solutions which integrate its cell separation and enrichment technology with other analytical tests.
“By forging this strategic collaboration, Biolidics will be ideally positioned to increase the sales potential of our ClearCell FX1 System and CTChip FR1 biochip once these blood-based assays are approved clinically,” says Ivan Lew, executive director and CEO of Biolidics.
Shares in the group closed flat at 30 cents on Wednesday.
