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Illumina won't hold up the Mayo
San Diego Business Journal, Jan 29, 2007 by Katie Weeks
Illumina Won't Hold Up The Mayo: Illumina Inc. and the Rochester, Minn.-based Mayo Clinic have signed an agreement to co-develop molecular diagnostic tests.
No financial terms were disclosed. San Diego-based Illumina will contribute its VeraCode technology, while the Mayo Clinic brings experience in discovering and validating biomarkers. Illumina's Veracode technology enhances the speed and accuracy of assays, according to Illumina.
The agreement, announced Jan. 9, involves the resulting clinical tests being used in Mayo's clinical practice and medical labs, as well as Illumina's rights to market and manufacture them worldwide.
Illumina began working with Mayo in early 2005 when Illumina installed one of its BeadLab systems at a Mayo lab. The world's market for molecular diagnostics is valued at more than $2 billion, according to Illumina.
Contact Katie Weeks with health care news at kweeks@sdbj.com or call her at (858) 277-6359.
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