4 Sep 2009 07:00
Immunodiagnostic Systems Holdings plc
Licensing agreement with Biosignatures Ltd
& Directorate Change
Immunodiagnostic Systems Holdings plc ("IDS" or "the Company"), a leading producer of diagnostic testing kits for the clinical and research markets, announces that it has agreed licence terms with Biosignatures Limited ("Biosignatures") to use new Biomarkers associated with kidney disease identified through Biosignatures' discovery programme.
Biosignatures, based in Newcastle upon Tyne, is a novel clinical diagnostic company generating high performance diagnostic signatures of disease states through its proprietary discovery platform. This proteomics-based technology draws upon the extensive experience of the founders with Nonlinear Dynamics, from which Biosignatures emerged.
The agreement plays to the strengths of both companies in accelerating the discovery of new disease biomarkers and feeding these into the proven immunoassay development machine that is IDS. The initial focus is to be kidney diseasesand related conditions.
It is hoped that this will be the first of many deals between the two companies as IDS continues the exploitation of its world leading IDS iSYS platform and Biosignatures rolls out its world first discovery technology.
Roger Duggan, CEO of IDS, said: "We're very excited about this deal. The enormous promise of the 'proteomics approach' to new biomarker discovery as embraced by many heavyweight academic and biotech giants has largely disappointed. We are particularly pleased to be working with a highly innovative partner in Biosignatures who have an enlightened approach to proteomics based upon extensive hard-headed commercial experience."
Directorate Change
Will Dracup, a non-executive director of IDS, is also Chief Executive of Biosignatures. In the light of the commercial collaboration with IDS, he will reluctantly step down from the IDS board with immediate effect.
The Board thanks Will for his valuable contribution whilst a Board member and wishes him every success with his new endeavour.
The Board is actively seeking a replacement for Will and an announcement will be made in due course.
ENDS
Enquiries:
| Immunodiagnostic Systems Holdings Plc | Tel: 0191 519 0660 |
| Roger Duggan, CEO | |
| Paul Hailes, Finance Director | |
| Brewin Dolphin Investment Banking | Tel: 0845 213 4730 |
| Andrew Emmott Sean Wyndham-Quin | |
| Walbrook PR Ltd | Tel: 020 7933 8787 |
| Paul McManus | Mob: 07980 541 893 |
| paul.mcmanus@walbrookpr.com |