February 6, 2012
SDIX to Receive $1.25M Upfront, up to $2.5M in
Milestone Payments and Royalties on Sales.
NEWARK, DE (February 6, 2012) - SDIX (NASDAQ: SDIX), a
leading provider of biotechnology-based products and
services for a broad range of life science, biotechnology,
diagnostic and food safety applications, and BD
Diagnostics, a segment of BD (Becton Dickinson and
Company), a leading global medical technology company,
today announced the signing of a comprehensive agreement
whereby the two companies will collaborate in the
development of a microbiology detection solution. The
collaboration will combine SDIX's expertise in development
of high performance antibodies with BD's expertise in
diagnostic system development. The collaboration objective
is to commercialize a novel system to address market needs
for faster time to results and for accurate detection of
microorganisms.
Under the agreement, SDIX will provide BD Diagnostics
access to its proven antibody technology and a
non-exclusive license to its patented bacteria phage
technology. BD will pay SDIX a $1.25M upfront fee for a
combination of license fees, technology access fees, and
paid-for research during system development. In addition to
the upfront payment, the agreement provides up to $2.5M in
milestone payments and royalties on product sales
incorporating SDIX's patented technology. Upon
commercialization of this system SDIX and BD will be
engaged in a long term agreement for the supply of
antibodies from SDIX to BD.
Francis DiNuzzo, SDIX's President and CEO commented, "We
are excited to be working with a world class organization
like BD. This agreement demonstrates our strengths in the
design and production of novel, highly specific antibodies
and our knowledge and experience in developing antibody
based detection systems." Mr. DiNuzzo went on to say, "The
combination of SDIX's antibodies together with the assay
and platform capabilities of BD will enable the partnership
to deliver a highly valuable system that we expect to
advance microbial detection in many very valuable
applications. We are pleased with the opportunity to
collaborate with such a capable and well known
organization."
About SDIX
SDIX is a biotechnology company with a core expertise in
creating better antigens, better antibodies and better
assays for the pharmaceutical, biotechnology and food
safety markets. For over 20 years, SDIX has been a leading
immuno-solutions company, developing results-oriented and
innovative antibody-based solutions that enable customers
to meet high performance research, diagnostic and
commercialization objectives.
In the life science market, SDIX's technology and
capabilities are being used to help discover disease
mechanisms, facilitate development of new drugs and provide
antibodies and assays for the diagnosis of disease.
In the food safety market, SDIX continues to expand its
footprint as an international supplier of rapid pathogen
test technologies that enable more accurate and
cost-effective results.
Media Contact
SDIX
111 Pencader Drive
Newark, DE 19702
302-456-6789
