HiChem in endotoxin diagnostics deal with Sepsis:
This article was originally published in Clinica
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.