SDIX and BD Diagnostics will be collaborating in the development of a microbiology detection solution. The collaboration will combine SDIX“s expertise in development of high performance antibodies with BD“s expertise in diagnostic system development. The collaboration objective is to commercialize a novel system to address market needs for faster time to results and for accurate detection of microorganisms.
Under the agreement, SDIX will provide BD Diagnostics access to its proven antibody technology and a non-exclusive license to its patented bacteria phage technology. BD will pay SDIX a $1.25M upfront fee for a combination of license fees, technology access fees, and paid-for research during system development. In addition to the upfront payment, the agreement provides up to $2.5M in milestone payments and royalties on product sales incorporating SDIX“s patented technology. Upon commercialization of this system SDIX and BD will be engaged in a long term agreement for the supply of antibodies from SDIX to BD.