Important note: Information in this article was accurate in 1997. The state of the art may have changed since the publication date.
Important note: Information in this article was accurate in 1997. The state of the art may have changed since the publication date.
Reuters NewMedia, Inc. - Tuesday August 19 4:46 AM EDT
The deal, financial details of which were not disclosed, gives Abbott the right to use Innogenetics' and Behring's patents and patent applications covering manufacture, use and sale of HIV-1 group O specific antigens in AIDS tests.
EASDAQ-quoted Innogenetics said it would receive fees and royalties from Abbott via Boehringer Mannheim on sales of Abbott's AIDS tests.
"The Abbott agreement is of major strategic importance for our joint HIV-1 group licensing programme," Innogenetics chief executive officer Hugo Van Heuverswyn said in a statement.
"Contract revenues and royalties from our joint HIV-1 group O licensing programme with Boehringer Mannheim and Behring Diagnostics are important for our revenue stream and we look forward to a significant growth in our royalties because of Abbott's international capabilities in this important market," he added.
The global market for AIDS tests was estimated at $400 million last year.
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