BG MEDICINE and Abbott announce a development and commercialization agreement for galectin-3 biomark
Abbott (NYSE: ABT) and BG Medicine, Inc. today announced a development and commercialization agreement for galectin-3, a novel biomarker that may play a role in detecting the development and progression of heart failure. The assay will be developed for Abbott's ARCHITECT immunochemistry instrument platform, specifically the company's i1000SR and i2000SR instruments. The agreement grants Abbott a license to BG Medicine's intellectual property related to galectin-3. Financial terms were not disclosed.
"Heart failure is one of the most costly medical conditions in the world, with 37 percent of U.S. Medicare dollars alone spent on heart conditions each year,"
said Michael Warmuth, senior vice president, diagnostics products, Abbott.
"Novel markers like galectin-3 have the potential to make important contributions to improving patient and economic outcomes as we work to better understand this deadly and costly disease."
Galectin-3 is a protein that plays an integral role in the biological functions related to the initiation and progression of cardiac fibrosis and scarring which is a leading cause of heart failure (HF). Several studies have shown that galectin-3 may provide valuable insight about heart failure and its underlying disease processes.
"This development and commercialization partnership with Abbott is an exciting opportunity to explore a promising diagnostic test with broad applicability in cardiovascular disease on a leading laboratory platform,"
said Pieter Muntendam, MD, president and CEO of BG Medicine.
"BG Medicine's strong life science discovery research program combined with Abbott's scientific and development leadership will enable us to bring important new tests to patients and laboratories."
About Abbott Diagnostics
Abbott Diagnostics is a global leader in in vitro diagnostics, with expertise in cardiac, metabolic and renal testing. Abbott’s comprehensive portfolio of cardiac tests includes biomarkers that help thousands of labs and doctors around the world to diagnose and assess heart failure and myocardial infarction. With more than 69,000 institutional customers in more than 100 countries, Abbott's diagnostic products offer customers quick processing of results, automation, convenience, cost effectiveness and flexibility.
About BG Medicine
BG Medicine is a life sciences company focused on the discovery, development, and commercialization of novel diagnostics based on biomarkers to improve patient outcomes and contain healthcare costs. BG Medicine’s proprietary technology platform enables rapid and cost-effective discovery of new high-value diagnostics biomarkers over a broad range of therapeutic areas. More information regarding BG Medicine is available on the company’s Web site at www.bg-medicine.com.
About Gilde Healthcare Partners
Gilde Healthcare Partners founded in 2000 is headquartered in Utrecht, the Netherlands with representatives in London and Madrid. Gilde Healthcare Partners has over EUR 300 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and enabling technologies. Gilde is a successful builder of healthcare businesses across Europe. By investing in companies with clear achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs.
Companies that Gilde Healthcare Partners has pro-actively supported span all aspects of healthcare and include Ablynx (Belgium), Acacia (UK), Agendia (Netherlands), AMT (Netherlands), Ascendis (Denmark), BG Medicine (US), Chroma Therapeutics (UK), Conatus (US), Flowcardia (US), Glycart (Switzerland), Innate Pharma (France), MTM (Germany), Pieris (Germany), Profibrix (Netherlands), Santaris (Denmark) and Symphogen (Denmark). More information about Gilde at www.gildehealthcare.nl.