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Swift Biosciences and Vela Diagnostics Sign Licensing Agreement

Published: Wednesday, December 05, 2012
Last Updated: Wednesday, December 05, 2012
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Swift Biosciences, Inc. today announced that it has signed a technology license agreement with Vela Operations Pte. Ltd, the Singapore-based parent of Vela Diagnostics.

The agreement gives Vela non-exclusive rights to utilize Swift’s myT® Primer technology in Vela’s real-time quantitative PCR-based IVD products for the detection of somatic mutations in human cancer.  Vela will seek regulatory approval around the world for its assay kits while Swift will continue to develop myT Primers for RUO applications as well as license to other partners.

“By incorporating Swift’s myT® Primer technology into our Real-Time PCR based molecular diagnostic products, we will provide the market with highly sensitive mutation detection capabilities which will enhance the level of cancer patient care,” said Michael Tillmann, Vela’s CEO.

According to David Olson, CEO of Swift Biosciences, “We are very pleased to work with Vela to bring the power of myT Primer technology to the oncology diagnostics market.   We look forward to supporting their growing product pipeline.  This agreement is part of our larger licensing strategy of working with partners to incorporate myT Primers to regulated in vitro diagnostics.  We anticipate additional license agreements going forward.”

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