CHELMSFORD, Mass., May 10 /PRNewswire/ -- Magellan Biosciences, an emerging leader in clinical-diagnostics markets worldwide, announced that it has acquired a portfolio of patents and other intellectual property from Newport, North Carolina-based Alderon Biosciences. Terms of the transaction were not disclosed.
According to Magellan Biosciences President and Chief Executive Officer, Robert J. Rosenthal, PhD, the acquisition enables the company to extend its CLIA-waived point-of-care platform to a broad range of targets. "Attaining CLIA-waived status for LeadCare(R) II was a significant achievement in the fulfillment of our point-of-care strategy. Now, with the newly acquired patent rights in hand, we plan to pursue additional analytes with the platform by developing assays for the detection of other metals, nucleic acids, proteins, and small molecules. We are working with stakeholders in the healthcare community to prioritize our new product development efforts towards those targets with the highest potential to improve patient outcomes."
The global point-of-care (POC) testing market is currently estimated at approximately $10 billion, or roughly one-third of the global in-vitro diagnostic (IVD) testing market. It is also one of the fastest growing segments - with annual growth rates in excess of 15 to 20 percent - because clinicians are moving testing closer to the patient to both reduce costs and enable more-rapid diagnoses and treatment decisions.
About Magellan Biosciences
Magellan serves the worldwide clinical-diagnostics market with rapid point-of-care analyzers and automated systems for hospital-based labs and near-patient testing. Scientists use the company's discovery systems and sensors for cutting-edge research to develop a new understanding of health and illness - from disease pathology to biomarker identification. Magellan designs all its systems, sensors, and consumables to deliver better, more-reliable results. And better results help drive improved health outcomes: earlier, more-accurate diagnoses; breakthroughs that can lead to novel treatments, new cures - innovations to enhance life. A privately held company, Magellan serves customers through wholly owned subsidiaries: ESA Biosciences, Dynex Technologies, and TREK Diagnostic Systems. For more information, visit http://www.magellanbio.com .
Magellan BiosciencesCONTACT: Caroline Grossman of Magellan Biosciences, +1-781-771-5579,cgrossman@magellanbio.com.com
Web site: http://www.magellanbio.com/
