Bayer Acquires Rights to Viral Diagnostics
By HospiMedica staff writers
Posted on 28 Mar 2001
Bayer Diagnostics (Tarrytown, NY, USA) and Innogenetics N.V. (Ghent, Belgium), an international biomedical company, have announced a series of agreements in the field of in vitro nucleic acid based viral diagnostics. Posted on 28 Mar 2001
Under these agreements, Bayer will acquire the exclusive worldwide rights for the sale and marketing of Innogenetics' LiPA HIV and LiPA HCV (hepatitis C virus) nucleic acid based products and their future generations. These products include a leading genotyping test for HCV and an extensive line of HIV drug resistance assays. Innogenetics will manufacture the existing products and develop future generations.
In return, Bayer will make a payment to Innogenetics of 10.4 million Euro, a future milestone payment, and R&D funding for the next five years. Bayer will also pay for the supply of the products and will make an equity investment of 10 million Euro in Innogenetics. "These high-quality products from Innogenetics are a perfect complement to our developing portfolio of nucleic acid based tests,” said Peter Knueppel, head of nucleic acid diagnostics at Bayer.
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