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Third Wave and Mitsubishi Announce Japanese Joint Venture for Personalized Medicine

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Third WaveTechnologies has formed a joint venture with Mitsubishi Corporation to accelerate the development and commercialization of clinical molecular diagnostic products and pharmacogenetics in Japan and throughout the Asia-Pacific region.

Third Wave Japan will accelerate and expand the development of high-value clinical products for the Japanese molecular diagnostic market, in particular, and the approval of those products by the Japanese Pharmaceuticals and Medical Devices Agency, or PDMA.

Products for hepatitis B and C viral load and genotyping, human papilloma virus, and mycobacterium are in development. In addition to these infectious disease products, Third Wave Japan anticipates developing pharmacogenetic products to improve drug safety and efficacy.

Third Wave will have worldwide rights outside the Asia-Pacific region to any new technology or product developed by Third Wave Japan.

"We are delighted to be partnering with Third Wave in Japan during this period of rapid change in the Japanese medical scene, during which technology advancement is opening new opportunities in diagnostics," said Tsunehiko Yanagihara, general manager of Mitsubishi Corporation's Life Sciences Business Unit.