Australian-based firm Agenix inked a deal to acquire an exclusive global license to Tyrian Diagnostics’ DiagnostIQ® point-of-care diagnostic technology for all human health applications, in exchange for 0.5 million Agenix shares. The transaction equates to something under 20% of the latter’s issued share capital. The firms are separately fine-tuning a deal through which Agenix will license rights to Tyrian’s tuberculosis biomarker IP for the development of an antibody-based test for active tuberculosis.
Bayer Crop Science has certain rights to the DiagnostIQ platform for agricultural applications, and the technology forms the basis of its wheat quality test ReadRite™. Rights to the biomarker technology were licensed to SpeeDx in 2011 for the development of molecular tests, excluding those based on antibodies, for active tuberculosis.
Tyrian ceased operations in November 2011, and has been looking to license its technologies for applications in different fields. The DiagnostIQ platform comprises a disposable color-change test device that provides results in just five minutes, and can be used either alone or in combination with a USB-driven reader. Tyrian claims the technology is ideally suited for use as a point-of-care or in-field testing platform.
Agenix is focused on the development of monoclonal antibody blood clot diagnostics, and small molecule drugs for the treatment of hepatitis B. The firm’s lead clinical-stage product is a monoclonal antibody-based radio-labeled imaging diagnostic, Thromboview®, for detecting blood clots. ThromboView has successfully completed two U.S. Phase II studies, and is being developed through Agenix’ Agen Biomedical business.
Agenix’ Shanghai-based subsidiary, Agenix Biopharmaceutical, has been established to develop a AGX 1009, a next-generation reverse transcriptase inhibitor prodrug of tenofovir, for the Chinese market. Phase I studies in China are projected to start in 2013. The firm holds rights to develop AGX 1009 through a collaboration with the Institute of Medicinal Biotechnology (IMB) of the Chinese Academy of Medical Sciences in Beijing.