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HiChem in endotoxin diagnostics deal with Sepsis:

This article was originally published in Clinica

Executive Summary

HiChem Diagnostics of Smithfield, Rhode Island, will acquire exclusive worldwide marketing rights to Sepsis' products for use in the rapid detection of endotoxin-related infection in critically ill patients. Sepsis' technology will provide test results in under 30 minutes, compared with 24 to 72 hours required with traditional diagnosis. Sepsis, a division of Toronto-based Spectral Diagnostics, will receive development and licensing fees, as well as milestone payments up to $6 million during the development phase. Further milestone payments will follow. Smithfield, Rhode Island-based HiChem, a subsidiary of Elan Pharmaceuticals, will also buy a 7.5% equity interest in Sepsis for $2 million.

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