Danish biotech company Exiqon, a supplier of highly specialised products for gene analysis, has entered a development and commercialisation agreement with the Nasdaq listed company Luminex Corporation based in Austin, Texas. As part of the agreement, Exiqon will develop and manufacture microRNA products on behalf of the Luminex Bioscience Group.
Lars Kongsbak, managing director of Exiqon, declines to disclose the financial value of the deal, but says that Exiqon has generated an annual growth in product sales of 100% in the last three years, corresponding to about DKK 20 m (USD 3.4 m) in 2006. In addition, the firm receives income from licence agreements so total revenues is forecast at around DKK 40 m (USD 6.8 m) this year.
"A doubling of product sales in 2007 will probably be difficult, but the agreement with Luminex will help us well. 60% of our sales are in the US, and Luminex has a good position on the US market. We are very happy with the agreement, "says Kongsbak.
In the last couple of years, Exiqon has developed a large number of products for analysis of microRNA molecules. The products are based on chemistries developed at Danish universities and are unique on the market because of an exceptional fit between these detection chemistries and the requirements for measuring microRNA molecules.
The news was reported by professional journal Ingeniøren (The Engineer) and on Exiqon's website.
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Link > Luminex