Company gains semiexclusive, worldwide rights to commercialize devices using RECAF technology.
Inverness Medical Innovations licensed BioCurex’ RECAF™ material and technology. RECAF (the receptor for alpha-fetoprotein) is a wide-spectrum marker present in malignant cancer cells and absent in most normal cells, the companies explain. It will thus play a role in the development of diagnostic tests for prostate, breast, colorectal, lung and other cancers.
Under terms of the agreement, Inverness will obtain semiexclusive, worldwide rights to commercialize products using this technology. BioCurex will be paid upfront fees, product and development milestones, plus royalties on product sales.
“BioCurex’s RECAF technology complements the recent acquisition of Matritech and the equity investment in Diamics and should enhance our product development efforts in these areas,” comments Ferran Prat, vp of oncology for Inverness. “As only the second diagnostic manufacturer with access to RECAF, this agreement represents an important competitive step for Inverness within the oncology diagnostics, and monitoring markets.”