Melbourne, Australia -- Biota Holdings Limited announced today it has signed an agreement for the distribution of its influenza diagnostic, AB FLU OIAr, in Europe, including the United Kingdom.
Under the agreement, Biota's partner in the development of the diagnostic, US-based BioStar, will manage the distribution of the diagnostic in Europe and New Zealand. BioStar already has exclusive rights to market the diagnostic in the United States.
The companies will begin marketing AB FLU OIAr in Europe ahead of the upcoming Northern Hemisphere winter. Subject to clearance from the US Food and Drug Administration (FDA), Biota and BioStar plan to launch the diagnostic in the United States later this year.
Biota and BioStar will share profits from sales of the diagnostic in the United States. Biota will pay BioStar a royalty for sales made in Europe, BioStar retains the worldwide manufacturing rights.
Biota's Chief Executive, Dr Hugh Niall, said it made strategic sense to have BioStar marketing AB FLU OIAr in these additional major Northern Hemisphere markets.
"In the process of deciding our marketing strategy for Europe and the UK, we talked to a number of companies," Dr Niall said. "As BioStar distributes a number of other diagnostic products into these markets, they have already successfully developed a distributor network that can bring significant advantages to Biota both through a stronger and more cohesive marketing approach, as well as allowing optimal use of Biota's resources."
In addition, Biota has been advised that Thermo BioAnalysis Corporation (ASE-TBA) has announced that it has signed a letter of intent to acquire the assets and certain obligations of BioStar Inc. |
