GE, Global Good Licensing Deal with Access Bio Brings Asymptomatic Malaria Rapid Diagnostic Tests to Market
July 12 2017 - 11:00AM
Business Wire
Intellectual Ventures’ Global Good Fund and GE (NYSE:GE),
have signed a licensing agreement with the diagnostics technology
company Access Bio (KOSDAQ:950130) to manufacture and distribute
innovative diagnostic technologies that will help global health
workers to more rapidly identify asymptomatic malaria in
low-resource regions around the world. Identifying these low-level
infections is considered critical to directing efforts towards
malaria elimination.
“Significantly enhancing the sensitivity of malaria rapid
diagnostic tests (RDTs) addresses gaps in rapid diagnostics that
will bring us closer to eliminating the deadly disease in more and
more regions around the world,” said Maurizio Vecchione, Executive
Vice President of Global Good & Research. “GE and Global Good
have a shared commitment, along with Access Bio – as a
commercialization partner – to enhance surveillance by public
health teams to identify very low level malaria infections and
realize the goal of eventually eradicating malaria entirely,” he
said.
The new diagnostics technologies for malaria detection were
co-developed by a team of scientists and engineers at GE’s Global
Research Center in Upstate New York and Global Good. GE Ventures,
GE’s strategic arm to accelerate innovation and growth with
partners, drove the commercialization model for the technology and
the licensing agreement between GE, Global Good and Access Bio.
“The combination of RDTs and serology tests will fill an
important gap in the tool-set for the eradication of malaria,” said
Joseph Suriano, Technical Discipline Leader at GE Global Research,
leading GE’s involvement in the program. “By being able to see if a
population has been recently exposed to the malaria parasite with
serology tests, we can then efficiently target the use of more
rapid, highly sensitive tests and other anti-malarial interventions
to act before outbreaks occur.”
The agreement covers a highly-sensitive diagnostic test that
identifies key proteins present in malaria, as well as Plasmodium
lactate dehydrogenase (pLDH) RDT to detect malarial parasites. The
agreement also includes technology to create malaria serology tests
for Plasmodium antibodies which can measure a population’s past
exposure to the disease.
“With our commercialization experience and mass production
facilities, Access Bio will be able to fully accommodate the
commercialization of the highly sensitive RDTs at affordable
prices. These tests will be the next generation of diagnostic
testing and a big step towards the eradication of malaria,” said
Young Ho Choi, Chief Executive Officer of Access Bio.
According to the WHO, the volume of malaria RDT sales reported
by manufacturers increased by almost 7 times from 2008 to 2014. The
WHO also reports that nearly half of the world’s population is at
risk of malaria, and in 2015 alone, there were 429,000 deaths
globally due to the disease; many of those deaths occur in the
developing world, with 92% of those deaths taking place in
Sub-Saharan Africa.
The WHO "Global Technical Strategy for Malaria 2016-2030", a new
15-year framework for malaria control in all endemic countries,
sets ambitious but achievable targets for 2030, including the
elimination of malaria in at least 35 countries. Providing these
new tests to these countries could enhance program effectiveness
and empower local health systems to manage elimination programs
more effectively.
About Global Good
Global Good is a collaboration between Intellectual Ventures and
Bill Gates to invent technology that improves life in low- and
middle-income countries. With support from a coalition of NGO,
government and business partners, we conceive, develop and deploy
inventions for the poorest parts of the world. Global Good combines
Intellectual Ventures’ unique invention prowess with the expertise
of leading humanitarian organizations, forward-looking governments,
and commercial partners that share our vision. Together, we invent,
develop, and deploy commercially-viable technologies that improve
life in developing countries. www.globalgood.com
About GE
GE is the world’s Digital Industrial Company, transforming
industry with software-defined machines and solutions that are
connected, responsive and predictive. GE is organized around a
global exchange of knowledge, the "GE Store," through which each
business shares and accesses the same technology, markets,
structure and intellect. Each invention further fuels innovation
and application across our industrial sectors. With people,
services, technology and scale, GE delivers better outcomes for
customers by speaking the language of industry. www.ge.com
About Access Bio
Access Bio (KOSDAQ:950130) is dedicated to the prevention and
early diagnosis of infectious diseases through research,
development, and manufacturing of in vitro rapid
diagnostic tests, biosensors and molecular diagnostic products. The
company’s in vitro diagnostic test platform includes
immunochemical, biochemical and molecular products.
Headquartered in Somerset, New Jersey, Access Bio serves its
global customer base from manufacturing sites located in the US,
Ethiopia and South Korea. In fiscal year 2015, the company reported
$31.4 million of revenues, largely from sales of its
industry-leading malaria RDT products. The company is in the early
stages of commercializing a number of additional diagnostic kits
that leverage its existing expertise and manufacturing
capacity.
For additional information about the company, please
visit www.accessbio.net.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170712005856/en/
For Intellectual VenturesClare Sayas,
206-334-0459clare.sayas@revereagency.co
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Mar 2024 to Apr 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2023 to Apr 2024