Horizon, Ventana Sign Co-Development Agreement
News Sep 02, 2016
Horizon Discovery Group plc announces it has entered into a co-development and commercialisation agreement with Ventana Medical Systems, Inc., a member of the Roche Group. The Agreement covers the development, manufacture and commercialisation of cell line derivative materials for use as IHC Reference Standards in cancer tissue diagnostics to support the development and validation of IHC assays.
Ventana is a global leader in tissue diagnostics including immunohistochemistry (IHC), providing products used in clinical histology and drug development research laboratories worldwide. To support the development and validation of IHC assays, Ventana has partnered with Horizon as a leading provider of highly characterised Reference Standards.
Under the terms of the Agreement, Ventana has the option to commission projects from Horizon, whereupon Horizon will develop the applicable cell lines and the associated derivative Reference Standard materials. Horizon will retain primary responsibility for commercialising the Reference Standards and will serve as the primary distribution channel to end-customers in the growing tissue diagnostics market, thereby providing the Company with additional ongoing revenue streams. Ventana will hold the option to co-distribute any developed Reference Standards.
The co-development agreement has the potential to generate significant revenue to Horizon annually in development fees, subject to Ventana’s opt-in rights. Projects are currently underway.
Dr. Darrin Disley, CEO, Horizon Discovery Group commented: “By securing this Agreement, Horizon’s Reference Standards will now be used increasingly in the IHC market, continuing the Company’s successful strategy of embedding OTS products into established and emerging workflows, delivering reliable revenue streams at high margin.”
Paul Morrill, President, Products at Horizon Discovery Group commented: “We are excited to continue to strengthen our relationship with Ventana, developing Reference Standards in areas of significant need and exploring the opportunity for follow-on OEM agreements.”