Pressure Bio, Target Discovery expand collaboration
SOUTH EASTON, Mass.óTarget Discovery Inc. (TDI) and Pressure BioSciences Inc. (PBI) recently signed expanded strategic technology license and supply agreements, granting TDI the right to use PBI's patented Pressure Cycling Technology platform for its entry into the clinical diagnostics testing market. Initially, the services will target what TDI and PBI believe to be unmet needs in treatment selection guidance for ovarian cancer. The agreement includes a minimum royalty, to be replaced by an annual royalty once TDI meets a specified level of sales, as well as a right of first negotiation and right of first refusal. No specific financial details were disclosed. The agreements follow a 2010 collaboration to combine PBI's platform with TDI's proprietary reagents to enable the extraction of membrane protein biomarkers from human tissue.