Agreement Furthers OCD’s Global Leadership in Transfusion Medicine
RARITAN, N.J. - Friday, January 30th 2015 [ME NewsWire]
(BUSINESS
WIRE) Ortho-Clinical Diagnostics, Inc. (“OCD”) announced it has entered
into an exclusive agreement with commercial-stage diagnostics company
Quotient Limited (“Quotient”) to distribute and sell Quotient’s
transfusion diagnostics platform MosaiQ™.
MosaiQ™, which is
currently in development, is being designed with Quotient’s proprietary
technology platform. This technology promises to allow improved time to
test results and more comprehensive matching of donor and patient blood,
beyond what is available in current transfusion diagnostic instruments.
Under
the terms of the Distribution and Supply Agreement, Quotient is
responsible for the development and launch of MosaiQ™, while OCD will
leverage its worldwide commercial capabilities to sell the product to
customers. OCD has exclusive rights to distribute MosaiQ™ for the global
patient testing market (for blood grouping) and the donor testing
market in the developing world and Japan (for blood grouping and
serological disease screening). Quotient retains all rights to
commercialize MosaiQ™ in the developed world (excluding Japan) for the
donor testing market.
"We believe this strategic relationship
with Quotient for the innovative MosaiQ™ technology has the potential to
bring completely new solutions to the global transfusion diagnostics
market," said Martin Madaus, Chairman and Chief Executive Officer of
OCD. "As the worldwide leader in blood typing we are very excited about
the opportunity to add Quotient’s novel approach to blood grouping to
OCD's market-leading product and service offerings. Together we will
bring valuable and very differentiated offerings to donor collection
agencies, hospitals and reference laboratories worldwide."
Quotient
is eligible to receive up to $59.0 million for the completion of
regulatory and commercialization milestones related to approval and
launch of MosaiQ™ in the U.S. and the European Union for blood grouping.
Simultaneous with the establishment of the Distribution and Supply
Agreement, OCD will also invest $10.0 million in new Quotient ordinary
shares at an issue price of $22.50 per share and $15.0 million in new
Quotient redeemable preferred shares carrying a 7% annual dividend.
“Quotient
believes that MosaiQ™ will deliver significant improvements for
transfusion diagnostics customers, worldwide,” said Paul Cowan, Chairman
and Chief Executive Officer of Quotient. “We are pleased to partner
with OCD, a proven leader in transfusion diagnostics with the commercial
strength and global market presence to accelerate access to MosaiQ™ as
the platform is commercialized.”
Quotient will be responsible for
the manufacture of all products (instruments, consumables and ancillary
products) associated with MosaiQ™ and has retained all other commercial
rights to MosaiQ™ with OCD receiving a right of first offer where
Quotient decides to commercialize MosaiQ™ with a third party for an
application other than blood grouping. The agreement also allows
Quotient and OCD to explore opportunities to develop and commercialize
MosaiQ™ for other diagnostics applications outside of patient testing
and donor screening.
OCD, a leader in serving the transfusion
medicine community, is known for providing innovative systems that
improve blood screening, grouping and typing. Through this collaboration
with Quotient, OCD will be able to continue to build upon its breadth
of offerings, over time. Recently, OCD obtained CE Mark (Conformité
Européenne) for its fully automated ORTHO VISION™ Analyzer for ORTHO
Column Agglutination Technologies. The ORTHO VISION™ Analyzer for ORTHO
Column Agglutination Technologies is available to transfusion medicine
laboratories in Europe, Japan and Australia. The ORTHO VISION™ Analyzer
for ID-Micro Typing System™ Gel Test is currently under regulatory
review in the United States and Canada.
About Ortho-Clinical Diagnostics, Inc.
Ortho-Clinical
Diagnostics, Inc. delivers high-quality in vitro diagnostic products
that give healthcare professionals around the world the knowledge they
need to make better treatment decisions sooner. The company serves the
global transfusion medicine community with donor screening and blood
typing products to help ensure every patient receives blood that is
safe, the right type and the right unit. Ortho Clinical Diagnostics also
brings sophisticated information management, testing technologies and
automation and interpretation tools to clinical laboratories worldwide
to help them run more efficiently and improve patient care. For more
information, visit www.orthoclinical.com.
About Quotient Limited
Quotient
is an established, commercial-stage diagnostics company committed to
reducing healthcare costs and improving patient care through the
development and commercialization of innovative tests, currently focused
on blood grouping and serological disease screening. Quotient is
developing its proprietary MosaiQ™ technology platform to offer a
breadth of tests that is unmatched by any commercially available
transfusion diagnostic instrument platform. The company’s operations are
based in Edinburgh, Scotland; Newtown, Pennsylvania; and Eysins,
Switzerland.
Contacts
MEDIA:
Ortho-Clinical Diagnostics, Inc.
Stephanie Scott, (908) 218-8137
media@ocdus.jnj.com
Permalink: http://me-newswire.net/news/13521/en
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