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Inverness Medical Innovations, Inc. (IMA) and BG Medicine to Develop Galectin-3 Test for Inverness' Triage(R) Meter


4/26/2010 6:27:50 AM

WALTHAM, Mass.--(BUSINESS WIRE)--BG Medicine, Inc. announced today that it has entered into an agreement with Inverness Medical Innovations, Inc. (NYSE: IMA - News)—a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management—for the development and commercialization of a galectin-3 test for Inverness’ Triage® Meter Pro®. Galectin-3 is a novel biomarker that may play a role in detecting the development and progression of heart failure.

Under the agreement, Inverness will be responsible for the development of the test in accordance with certain plans and milestones, and Inverness and BG Medicine will collaborate in support of development of the test and regulatory filings.

“We look forward to the development of additional heart failure biomarker content, for use in conjunction with existing biomarkers, to enhance the assessment of this complex and costly medical condition,” said Ron Zwanziger, President and CEO of Inverness.

“BNP and galectin-3 each provide important independent information about a patient's heart failure.” said Pieter Muntendam, M.D., President and CEO of BG Medicine. “This business opportunity was created by the natural complementarity of the two tests.”

About Inverness Medical Innovations

By developing new capabilities in near-patient diagnosis, monitoring, and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness’ products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse, and women’s health. Inverness is headquartered in Waltham, Massachusetts.

About BG Medicine

BG Medicine is a life sciences company focused on the discovery, development, and commercialization of novel diagnostics based on biomarkers to improve patient outcomes and contain healthcare costs.

Contact:

BG Medicine, Inc. Michael W. Rogers, 781-890-1199 EVP & Chief Financial Officer

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