XCR Diagnostics and Luminex Enter into License Agreement
Privately held XCR Diagnostics Inc. and Luminex Corporation (Nasdaq:LMNX) have entered into a non-exclusive, worldwide license agreement for XCR's proprietary Xtreme Chain Reaction nucleic acid amplification technology. The XCR technology enables extremely rapid thermal cycling protocols to achieve dramatically reduced assay turnaround times compared to traditional polymerase chain reaction. Financial terms were not disclosed.
“XCR Diagnostics is a young company developing a novel Portable Nucleic Acid Testing System (pNATS). We are excited about the confidence Luminex has in using our XCR technology. This partnership will expose more healthcare professionals to the benefits of using our proprietary XCR technology,” said Mark Powelson, CEO of XCR Diagnostics.
“Luminex is committed to continuing to expand its technology capabilities to deliver innovative solutions to our customers. We look forward to leveraging the benefits that the XCR technology can bring to our future molecular diagnostics portfolio,” said Homi Shamir, President and CEO of Luminex Corporation.
About XCR Diagnostics, Inc.
XCR Diagnostics Inc. is an early stage nucleic acid system company advancing near patient portable molecular diagnostics instrumentation, sample preparation and delivery plus detection and analysis to the diagnostic markets; domestically and internationally. The company is positioned to provide the first sub-10-minute to a negative test result to the market, meaning a positive result could be as rapid as 7 to 8 minutes. The combination of small portable platforms and revolutionary molecular reagents enables XCR Diagnostics to dramatically trim test times and reduce healthcare costs, with a vision to deliver hyper-accurate molecular diagnostics testing near patient and central laboratory. Fluoresentric Inc., a wholly owned XCR Diagnostics company, holds industry-leading Intellectual Property (IP) and maintains commercial operations in the food safety, veterinary and research markets. The company continues to expand its IP claims as well as write new patients for submission to the United States Patent and Trademark Office. To learn more about XCR Diagnostics, please visit us at www.xcrdiagnostics.com.
About Luminex Corporation
At Luminex, our mission is to empower labs to obtain reliable, timely and actionable answers, ultimately advancing health. We offer a wide range of solutions applicable in diverse markets including clinical diagnostics, pharmaceutical drug discovery, biomedical research, genomic and proteomic research, biodefense research, and food safety. We accelerate reliable answers while simplifying complexity and deliver certainty with a seamless experience. To learn more about Luminex, please visit us at www.luminexcorp.com.