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Abbott signs development agreement with BG Medicine for Galectin-3

Posted on: Wed, 18 Nov 2009 13:27:00 EST

Symbols: ABT, BGMD

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Nov 18, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
BGMD | Quote | Chart | News | PowerRating -- Abbott Laboratories, a developer, manufacturer, and seller of health care products, has signed an agreement with BG Medicine, Inc., a developer of molecular diagnostics, for the development and commercialization of Galectin-3, a biomarker for detecting the development and progression of heart failure. Both Abbott and BG Medicine are based in the US.

Under the terms of the agreement, Abbott has obtained a license to BG Medicine's intellectual property related to Galectin-3. The assay will be developed for Abbott's Architect immunochemistry instrument platform, specifically Abbott's 1000SR and i2000SR instruments.

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).

Deal Type    Partnership
Sub-Category Development,Commercialization,Licensing Agreement
Deal Status  Announced: 2009-11-17

Deal Participants

Partner 1 (Company) Abbott Laboratories
Partner 2 (Company) BG Medicine, Inc. (formerly Beyond Genomics, Inc.)

For full details on Abbott Laboratories (ABT) ABT. Abbott Laboratories (ABT) has Short Term PowerRatings at TradingMarkets. Details on Abbott Laboratories (ABT) Short Term PowerRatings is available at This Link.

For full details on (BGMD) BGMD. (BGMD) has Short Term PowerRatings at TradingMarkets. Details on (BGMD) Short Term PowerRatings is available at This Link.

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