CHARLESTON, S.C. & OAKDALE, Minn.–(BUSINESS WIRE)–Veravas, Inc., an emerging diagnostic company focusing on sample preparation products and new diagnostic tests and MIP Diagnostics Ltd., the Molecularly Imprinted Polymers (MIPs) specialist based in Sharnbrook, United Kingdom, announced today that they have entered into a mutually beneficial agreement for the development, license, and supply of a novel MIP specific for Veravas’ proprietary sample preparation technology.
Veravas is targeting two key issues within the field of diagnostics. The first is the widespread issue of diagnostic interferences – substances like biotin that alter routine test results. The second is the difficulty in measuring biomarkers of low abundance. Our proprietary technology and strategic partnerships allow us to move the needle on what’s possible to measure to better diagnose and treat rare and common diseases.
MIP Diagnostics Ltd. is active in a number of fields including Human Healthcare, Oil and Gas and Research Reagents and sees this relationship as part of its continued expansion strategy in diagnostics where the benefits of MIPs allow for better solutions to be developed over previously existing technologies.
The combination of Veravas’ sample preparation technology and MIP Diagnostics technology and manufacturing capabilities in Molecularly Imprinted Polymers (MIPs) will result in the creation of novel products to help diagnostic companies manage risks associated with troublesome interferences in current test designs. The long-term benefits of this collaboration could have significant impact over existing methods and generate significant revenues for both companies.
Stephane Argivier, Interim CEO, MIP Diagnostics Ltd., said “We are excited to work with Veravas on this joint approach to sample preparation and continue to expand further our MIP relationships for commercial applications in a diversity of market areas. This is another huge opportunity for the company to develop a long term highly profitable business with a remarkable partner.”
“This new strategic relationship with MIP Diagnostics will allow Veravas to complete its biotin ecosystem of products and support IVD manufacturers in designing and developing assays that are minimally affected by biotin and other common heterophilic interferences,” said Carroll E. Streetman Jr., CEO, Veravas. “We consider this to be a valuable alliance as the combination of our two technologies supports Veravas’s efforts to bring novel diagnostic tests to market in the fields of neuroscience, bone and mineral metabolism, and cardiology.”
Veravas is transforming laboratory medicine with technology that delivers superior test results, providing confidence to clinicians and patients that diagnoses are accurate. The company is rapidly driving the commercialization of proprietary sample preparation products and new diagnostic tests. Veravas’ nanomagnetic particles can identify, remove, and measure select substances from patient samples to reduce the effects of complex interferences and detect low-abundance biomarkers. Led by a passionate and dedicated team, Veravas is devoted to improving patient lives by minimizing the harmful effects of unnecessary treatments and deaths associated with poor quality diagnostic results. Because every patient deserves the correct result, every time. To learn more about our technologies and clinical applications, visit veravas.com.
About MIP Diagnostic Ltd.
MIP Diagnostics Limited develops and manufactures nanoMIPs, linear MIPs, bulk MIP and Rationally Designed Polymers using its proprietary processes. Molecularly Imprinted Polymers (MIPs) are ‘synthetic’ affinity reagents and the nanoMIP format provides a more robust alternative to antibodies, typically with similar or greater affinity coupled with additional unique characteristics for detection, separation, imaging, and cofactor applications.