very clear that Alere as something to work with.
Why would the select 7 specific biomarkers out of 35 & how close are they to having an accurate test to detect early onset preeclampsia ?
July 10, 2012 07:00 ET
Alere Secures Final Option Period on Miraculins' Preeclampsia Technology
Research and Development Program to Focus on Select Set of Biomarkers
WINNIPEG, MANITOBA--(Marketwire - July 10, 2012) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, announces today that Alere Inc. has secured its final six-month exclusive option period on Miraculins' preeclampsia technology and will provide Miraculins a non-refundable fee in accordance with the terms of the Collaborative Research and Option Agreement between the parties. Alere, in partnership with Miraculins, is working towards the goal of commercializing Miraculins' preeclampsia technology for worldwide distribution.
Alere originally secured an exclusive option to license and commercialize any Miraculins' biomarkers being advanced under the collaborative program, with the execution of the Collaborative Research and Option Agreement on January 11, 2010. In accordance with the terms of that agreement, following the initial 18-month period, the exclusive option has been maintained at regular intervals, with the final 6-month exclusive option period ending on January 10, 2013.
Upon the execution of a license agreement, Miraculins would receive additional fees, developmental and commercial milestones and royalties on sales. In securing its final exclusive option period, Alere has indicated that it will focus its research and development efforts on seven biomarkers from the original suite of 35 biomarkers that were part of the Collaborative Research and Option Agreement.
"The attrition of biomarkers is an expected occurrence, and represents the final stage for this research and development program," commented Christopher J. Moreau, President and CEO of Miraculins Inc. "Alere has a well advanced preeclampsia program in place, and the decision to license biomarkers to add to their program is based on numerous factors. As part of this process, Miraculins has the option to explore other possible research and collaboration partnerships, for those markers not selected by Alere, with third parties who may also be looking to add biomarkers to strengthen their preeclampsia programs."