Chempaq A/S signs technology licensing agreement with Philips for its complete blood count test technology

The Denmark-based life science company Chempaq, leading within Point of Care diagnostics, has signed a technology licensing agreement with Philips regarding its portable Chempaq XDM technology for complete blood count testing

With the technology licensing agreement of Chempaq’s XDM®, Philips becomes the first company to use the technology for its development of in-vitro diagnostic tests designed for use in home settings.

As part of the agreement Chempaq has licensed Philips as authorized distributor combined with an agreement on the future sales of test cassettes for the tests.

“This agreement secures us a great platform for international growth. Our technology has the potential to give patients throughout the world access to the state-of-the-art tool for home-monitoring. It gives Doctors new possibilities to receive insights on the patient’s development between therapeutic treatments and to meet serious complications and co-morbidities due to ongoing diseases”, says Michael Pålsson, CEO of Chempaq A/S.

Chempaq XDM® was introduced in the summer of 2009 and offers patients a complete counting of blood cells (CBC). The counting of white blood cells is the most common used technique within infection diagnosis.

“Chempaq’s investors include Sunstone Capital, Biofund and Vecata and they are committed to continue to contribute with support and knowledge on Chempaq’s path to become the leading global player in this area. There is a great market potential”, says Søren Lemonuis, Sunstone Capital.

With the agreement Chempaq obtains a range of milestone payments common to the pharma industry along with the ongoing sale of consumer goods. The parties have, however, agreed on not to disclose any further information regarding the financial matters.

For further information, please contact:

Michael Pålsson, CEO of Chempaq A/S
Phone: +45 44390505
Mobile: +45 60829200
E-mail: mp@chempaq.com

About Chempaq A/S (www.chempaq.com)
Chempaq was formed in 2001 by our Founder Ulrik Larsen based on his idea to redefine the hematology test by creating a single use self contained cassette module. This PAQ (cassette) was designed to be easy to use, automatically calibrated and to deliver high accuracy and precision. In February 2005 the Chempaq XBC was CE marked. Later the same year in December the Chempaq XBC received a 510(k) clearance from the FDA. Since 2005, Doctors offices and Hospitals have provided patients with a unique infection diagnosis using the Chempaq XBC product. Chempaq A/S is financed by venture capital. The company’s largest investors are Sunstone Capital (www.sunstonecapital.com), BioFund (www.biofund.com), and VECATA (www.vecata.com).