Companies to embark on joint R+D to develop and commercialise low cost, easy-to-use and readily portable point-of-care (POC) diagnostic devices for medical testing
Acrongenomics and Molecular Vision hae signed a memorandum of understanding (MOU) to embark on joint R+D to develop and commercialize a line of low cost, easy-to-use and readily portable point-of-care (POC) diagnostic devices for medical testing that will greatly extend the tools available to the medical community.
The devices will allow for on-the-spot quantitative/qualitative diagnosis for diabetes, drug abuse, STDs and cardiovascular diseases.
The ability to perform accurate and fast diagnosis at first consultation will eliminate the need for patients to make repeat visits, thereby bringing forward the initiation of treatment, freeing up clinical time, and lowering treatment costs.
Furthermore, the technology offers potential outside the diagnostics market and will be of use to many specialists lacking access to on-site laboratory facilities.
The global POC testing market is estimated to reach US$18 billion by 2010 (BCC Research).
Molecular Vision's patented diagnostic chips have the potential to become a de-facto standard for medical testing.
They are based on a novel technology platform that will allow the development of readily portable POC devices for a broad range of medical applications.
They incorporate two powerful technologies: microfluidics and organic semiconductor devices (light emitting diodes and photodetectors).
Organic polymer light emitting diodes have been the subject of intense scientific and commercial interest since their discovery at Cambridge University in 1989 by Molecular Vision co-founder Professor Donal Bradley and his colleagues.
