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Abbott and BG Medicine sign development and commercialization agreement

Posted on: Thu, 19 Nov 2009 09:54:00 EST

Symbols: BGMD

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Nov 19, 2009 (Datamonitor via COMTEX) --
BGMD | Quote | Chart | News | PowerRating -- Abbott and BG Medicine have signed a development and commercialization agreement for galectin-3, a 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.

Pieter Muntendam, president and CEO of BG Medicine, said: "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. 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."

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