Ribonomics and Medical & Biological Laboratories (MBL) of Japan, say they working together developing and commercializing clinical diagnostic and research products.
The companies say the alliance combines MBL’s product development and commercialization with Ribonomics’ target discovery process and systems biology data. Financial terms were not disclosed.
Under the terms of the agreement, Ribonomics says it will employ its proprietary RAS platform technology to discover new diagnostic biomarkers that signal the presence of human disease. In return for an upfront technology fee, MBL has secured the first right of access to develop, manufacture and commercialize research and diagnostic products directed at disease markers discovered by Ribonomics.
In such cases where MBL elects to develop a product covered by the collaboration, Ribonomics says it will receive licensing fees, as well as milestones and royalties upon the achievement of specified research and clinical events. The term of the collaboration is three years.
“We are pleased to have begun this partnership so soon in the Company’s development,” Chris Kelly, president and chief executive officer of Ribonomics, said in a statement. “Our alliance with MBL provides Ribonomics with early revenue as well as commercial endorsement of our innovative enabling technology.”
MBL is a biotechnology company focused on the research, development, production and sales of research and diagnostic reagents in the field of immunology and cellular and molecular biology. The company is expanding the scope of immunology into the broad area of life science disciplines and the application of information technology to create and market products and services.
Ribonomics is a privately-held biotechnology company in RTP applying systems biology to discover and develop products to treat and diagnose human diseases. Using its proprietary methodology, the company applies a “biological filter,” enabling Ribonomics and its partners to attempt to understand the molecular mechanisms underlying disease.