BioPorto has entered into a distribution agreement with Siemens Healthcare, under which BioPorto will deliver an NGAL test adapted for Siemens Healthcare’s BN II and BN ProSpec Systems. The agreement is exclusive with regard to those instruments and has a worldwide scope. Siemens Healthcare’s BN Systems are controlled systems that are designed for validated applications. Subsequent to completion of the adaption of the NGAL test to those instruments, the agreement includes a period in which Siemens Healthcare and BioPorto will collaborate to bring the adapted test to market. Commercial sales will commence after completion of the adaption. The agreement has significant strategic importance to the availability of NGAL tests and the awareness of NGAL as a diagnostic marker. BioPorto expects to see an economic effect of this agreement in the second half of 2016.
Peter Mørch Eriksen, CEO of BioPorto, comments: "I am very pleased with the distribution agreement and the cooperation with Siemens on getting NGAL adapted for two of their systems and marketed. I expect this agreement to have minor economic impact for BioPorto this year, because the test is only marketed in the second half of 2016. In contrast, and especially since we are well underway with building the NGAL market, the strategic importance is very significant as could the economic impact become over time. "
For further information, please contact:
Peter Mørch Eriksen, CEO
Christina Thomsen, Investor Relations Manager
Telephone +45 4529 0000, e-mail investor@bioporto.com
The kidney biomarker NGAL
Every year about 13 million people are struck by acute kidney injury worldwide, of whom about 4 million die. Nevertheless, there has been no real progress in methods of diagnosing kidney injury over the last half century. Existing methods, such as serum creatinine determination, only signal kidney failure 24-72 hours after the injury has taken place. In contrast, NGAL rises to diagnostic levels within a few hours of kidney injury and thus enables the physician to make vital clinical decisions before the damage progresses to potentially fatal renal shutdown. In addition to helping the patient, cost-benefit analyses show that implementing NGAL testing will contribute to reducing hospital costs in the management of kidney injury and its consequences.
About BioPorto
BioPorto Diagnostics A/S is an in-vitro diagnostics company that provides healthcare professionals in clinical and research settings a range of diagnostic tests and antibodies. Our pioneering product portfolio includes assays for underserved disease states such as NGAL for acute kidney injury. We sell our products in more than 80 countries through diverse sales channels and partners. BioPorto has its headquarters in Copenhagen, Denmark and is listed on the NASDAQ Copenhagen stock exchange.
