Danish fledgling firm in deal with Dutch electricals giant Philips  

2009.10.19
Chempaq A/S has entered a technology licensing agreement with Philips regarding its XDM blood testing apparatus designed for use in home settings
Danish fledgling life science company Chempaq A/S has announced a technology licensing agreement with Dutch electricals giant Philips regarding its XDM blood testing apparatus designed for use in home settings, reports national daily newspaper Berlingske Tidende. As part of the agreement Chempaq has licensed Philips as authorised distributor for the product.
 
Michael Pålsson, CEO of Chempaq, says in a news release that the agreement provides a platform for the company's international growth and comments that the technology "has the potential to give patients throughout the world access to the state-of-the-art tool for home-monitoring.”
 
While Philips gains the licence to use the technology behind the XDM, Chempaq will get a range of milestone payments together with income from the sales of the product. Neither party has disclosed any further information regarding the financial aspects of the deal, and Philips has declined to comment on the areas where it plans to use the technology.
 
Søren Lemonius, a partner in Sunstone Capital which is one of the investors in Chempaq, says that the market potential is considerable.
 
"Increasing numbers of patients live with chronic or long-term illnesses, for example many cancer patients. For them it will be a relief if they can have home-monitoring.
 
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