Lab21 acquires rights to new PCR technology

Lab21 has announced a new licensing deal that provides it with global rights to polymerase chain reaction (PCR) technology from Cooperative Diagnostics.

The new agreement will allow Lab21 to use the Cooperative Diagnostics suite of patents and expertise for the development of its pipeline of molecular diagnostic kits.

South Carolina-based Cooperative Diagnostics specialises in developing innovative approaches to creating novel molecular technologies, using biophysical models and statistical bioinformatics.

Lab21 chief executive officer Graham Mullis said the company expects to launch its first companion diagnostic assays using the fifth-generation real-time PCR technology in Europe during the first half of the year.

"These tests will be commercialised through our international distribution networks and particularly through our key global original equipment manufacturing partners," he said.

Last month, Lab21 was named one of the fastest-growing technology companies in Europe in an industry report from Deloitte, after recording a growth rate of 527 percent over a five-year period.