The test would also employ certain proprietary reagents belonging to Bio-Rad. The agreement contemplates that the parties would enter into a limited exclusive license to the DPP technology. Bio-Rad would have exclusive marketing rights for the product.
Larry Siebert, Chembio’s CEO, said: “This collaboration with a world market leader like Bio-Rad is a good fit for Chembio, as it allows us to leverage our DPP intellectual property with our experience in product development and regulated manufacturing to develop a product to be marketed by a leading diagnostics company.”