- EMD Millipore to acquire exclusive worldwide rights to Singulex's SMCTM technology – instruments, assays and services – for research applications -
- Combination of Singulex's Erenna® immunoassay platform and EMD Millipore's global reach will accelerate SMC technology as "gold standard" for ultra-sensitive immunoassays -
- Singulex to leverage its superior immunoassay technology to create additional opportunities in existing diagnostics businesses -
ALAMEDA, Calif., May 21, 2015 (GLOBE NEWSWIRE) -- Singulex, Inc., the developer and leading provider of Single Molecule Counting technology for clinical diagnostics and scientific discovery, today announced that they have entered into a definitive agreement under which EMD Millipore, the Life Science business of Merck KGaA of Darmstadt, Germany, will control and manage the Singulex Life Science Research business, one of Singulex's three areas of business. Under the terms of the agreement, EMD Millipore will pay Singulex an upfront payment, royalties and additional payments based upon achievement of certain commercial milestones. EMD Millipore will have exclusive rights to further develop and commercialize Singulex's proprietary SMC™ technology for research applications worldwide.
Reliable, ultra-sensitive protein detection is a critical unmet need in life science research. Current technologies allow detection of only approximately five percent of proteins in the entire proteome due to the very low abundance of many biomarkers, leaving the vast majority of proteins virtually undetectable. Singulex's SMC technology is a novel, patented technology combining signal enhancement and background reduction coupled with low volume sampling to achieve ultra-high sensitivity protein detection. The clinical benefits of this technology have been well-established and Singulex will continue to operate a large and successful clinical lab testing business and an emerging in vitro diagnostics business based on novel, enabling SMC assays. Financial and other terms of the deal were not disclosed.
"We are very pleased with this strategic agreement with EMD Millipore, a world leader in life science, since it puts our unique technology into the best possible hands to optimize its commercial scale-up and market potential," said Guido Baechler, President and CEO of Singulex. "We have established our position as a leader in high-sensitive immunoassays, and this deal enables us to leverage our superior immunoassay technology to create additional opportunities in our other diagnostic businesses, especially within the area of companion diagnostics."
"This agreement is further evidence of EMD Millipore's commitment to bringing innovative technologies to our global life science customers," said Udit Batra, President and CEO of EMD Millipore. "The Erenna® platform offers the unique advantage of unrivaled sensitivity and precision and will be a strong addition to our Protein Detection franchise."
About Singulex, Inc.
Singulex is the developer and leading provider of Single Molecule Counting technology for clinical diagnostics and scientific discovery. Singulex's proprietary SMC™ technology enables physicians and scientists to detect biomarkers of disease that were previously undetectable. Powered by SMC technology, Singulex's ultrasensitive immunoassay solutions and lab testing services are transforming patient care from reactive disease treatment to proactive health management and fueling the discovery and development of new therapeutics.
The Singulex Clinical Lab Testing Services consist of a CLIA-licensed and CAP-accredited laboratory that currently provides a comprehensive menu of advanced cardiovascular disease testing utilizing SMC technology. Singulex currently is developing the Sgx Clarity™System, a fully-automated in vitro diagnostics system that will bring the benefits of SMC technology to hospital and reference labs worldwide. For more information, please visit www.singulex.com.
About EMD Millipore
EMD Millipore is the U.S. Life Science subsidiary of Merck KGaA, Darmstadt, Germany. As part of the global Life Science business of Merck KGaA, Darmstadt, Germany, EMD Millipore offers a broad range of innovative, performance products, services and business relationships that enable our customers' success in research, development and production of biotech and pharmaceutical drug therapies. Through dedicated collaboration on new scientific and engineering insights, and as one of the top three R&D investors in the life science tools industry, the Life Science business of Merck KGaA, Darmstadt, Germany, serves as a strategic partner to customers and helps advance the promise of life science. Headquartered in Billerica, Massachusetts, the global business has around 10,000 employees, operations in 66 countries and 2014 revenues of €2.7 billion.
For more information, please visit www.emdmillipore.com
About Merck KGaA, Darmstadt, Germany
Merck KGaA, Darmstadt, Germany, is a leading company for innovative and top-quality high-tech products in healthcare, life science and performance materials. The company has six businesses – Biopharmaceuticals, Consumer Health, Allergopharma, Biosimilars, Life Science and Performance Materials – and generated sales of € 11.3 billion in 2014. Around 39,000 employees work in 66 countries to improve the quality of life for patients, to foster the success of customers and to help meet global challenges. Merck KGaA, Darmstadt, Germany, is the world's oldest pharmaceutical and chemical company – since 1668, the company has stood for innovation, business success and responsible entrepreneurship. Holding an approximately 70% interest, the founding family remains the majority owner of the company to this day. Merck KGaA, Darmstadt, Germany holds the global rights to the Merck name and brand. The only exceptions are Canada and the United States, where the company operates as EMD Serono, EMD Millipore and EMD Performance Materials.
For more information, please visit www.emdgroup.com
CONTACT: Media: Denise Powell Red House Consulting 510.703.9491 email@example.comSource:Singulex, Inc.