Illumina Inks Deal With ArcherDX To Deliver NGS-Based IVD Kits
Zacks Investment Research | Dec 03, 2019 09:55PM ET
Illumina, Inc. (NASDAQ:ILMN) recently inked a non-exclusive partnership deal with ArcherDX, Inc., a growth-stage molecular diagnostics company. Both companies aim at developing in-vitro diagnostic (IVD) tests for ArcherDX's portfolio of next-generation sequencing (NGS)-based companion diagnostics.
However, financial terms of the deal have been kept under wraps.
Deal in Detail
Per the agreement, ArcherDX will develop IVD tests that will be performed on Illumina's NextSeq 550Dx System. In this regard, ArcherDX will be responsible for obtaining necessary regulatory approvals pertaining to each IVD kit and their commercialization following the regulatory nod.
These newly-developed IVD tests are expected to provide options for providers and patients globally. Per the press release, Illumina’s large install base and advanced sequencing systems will accelerate easy access to high-quality genomic testing by developing distributable diagnostic assays. This can be used to identify targeted therapy options and monitor the recurrence of disease in case of a wide variety of cancers.
Earlier in 2016, Illumina entered into a similar agreement with ArcherDX for the MiSeq Dx System.
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