Pursuant to the terms of the agreement, Vacci-Test gains the worldwide rights to the patented MagnaBioSciences’s (MBS) magnetic technology for the detection of pathogens in the human food chain.
The new agreement expands the terms of the existing agreement, signed in 2007, and includes MBS taking a minority ownership position in Vacci-test. Vacci-Test’s first product to be developed under this new license will be FoodChek-E coli, a new same shift test that is rapid, highly accurate and cost effective.
Vacci-Test will be bringing a number of food safety tests to market beginning with FoodChek-E coli in the fourth quarter of 2008, to be quickly followed by other equally innovative tests for the detection of Salmonella and Listeria.
Sandy MacPherson, chairman of the executive operating committee of Vacci-Test, said: “This new MBS agreement demonstrates our mutual commitment to food safety testing and the urgent need for more rapid, accurate and cost effective food safety tests in the food industry. For Vacci-Test this new license provides broader, worldwide access for all of our new products in the global food safety market.”