Genomadix Inc. Announces Know-How License Agreement with Mayo Clinic
Tuesday, August 30, 2022
Genomadix and Mayo Clinic Collaborate to Advance Point-of-Care Molecular Analyzer Technology
Genomadix, a leading molecular diagnostics company, announced today that it has entered into a know-how license agreement and stock purchase agreement with Mayo Clinic, a renowned healthcare organization, to drive forward the development of its innovative point-of-care molecular analyzer technology. The Genomadix CubeTM, a compact and portable device utilizing polymerase chain reaction (PCR) technology, has the capability to produce accurate test results within just one hour, revolutionizing the accessibility of timely diagnostics beyond centralized laboratories.
Already established in Europe, the Genomadix CubeTM testing system has been successfully employed for environmental testing, specifically for detecting Legionella bacteria in water sources such as building cooling towers. Furthermore, it has also been utilized for CYP2C19 genotype-guided antiplatelet therapy. Efforts are currently underway to obtain authorization for its use in the United States. Additionally, Genomadix has developed a COVID-19 testing product, which is expected to be introduced (pending authorization) later in 2022.
Steve Edgett, CEO of Genomadix, expressed great pride in the collaboration with Mayo Clinic, emphasizing the shared mission of providing highly accurate molecular testing for the benefit of patients. This partnership aims to catalyze new product developments by leveraging the specialized expertise of Mayo Clinic's renowned experts in the field.
It is important to note that Mayo Clinic has a financial interest in the technology mentioned in this press release. Any revenue generated from this collaboration will be reinvested to support Mayo Clinic's not-for-profit mission in delivering exceptional patient care, advancing education, and conducting groundbreaking research.