Haemonetics Corp. (HAE) recently entered a new reagent development and supply agreement with Quotient Biodiagnostics Group and its wholly-owned subsidiary Alba Bioscience Limited. Per the agreement, Haemonetics will have exclusive access to Alba’s comprehensive catalogue of approved reagents for use in connection with the commercialization of its Arryx laser based blood typing platform.
The agreement includes future milestone payments related to the optimization of reagents for use in the Arryx system. Haemonetics will have a perpetual license for exclusive access to Alba’s reagents for commercialization.
The new agreement represents a significant opportunity for Haemonetics to tap the estimated $1 billion blood typing market. Haemonetics is the market leader in developing and manufacturing blood collection and processing technology.
The agreement facilitates and accelerates the development of the Arryx platform for Haemonetics by using Alba’s portfolio of world-leading blood typing reagents. Alba Bioscience is a significant player in the blood typing and screening market. The company is a global leader in the manufacture and sale of critical raw materials and finished goods used in this market.
Alba Bioscience has over fifteen products already licensed by the U.S. Food and Drug Administration (FDA). Several products are in the pipeline. Haemonetics operates in a very competitive environment, which includes big players like Baxter International Inc. (BAX), Abbott Laboratories (ABT) and Medtronic Inc. (MDT).
Presently, we have a ‘Neutral’ recommendation on Haemonetics.
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