Qorvo Biotechnologies and Zomedica Sign Long-Term License Agreement to Transfer Control of TRUFORMA Product Line
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Update time : 2023-02-09 10:32:43
A leading provider of RF solutions for mobile applications, infrastructure and aerospace, and defense applications, today announced that the company's existing development and commercialization agreement with Zomedica Corp. for the TRUFORMA family of products will soon see a strategic restructuring.
Qorvo's TRUFORMA diagnostic platform utilizes unique BAW technology to deliver a variety of highly accurate and sensitive measurements that are not possible with other diagnostic methods utilizing optical technology. The TRUFORMA diagnostic system now provides veterinarians with accurate, rapid and reliable diagnostic results to assist them in the diagnosis and treatment of complex thyroid and adrenal disorders.
Under the agreement, Qorvo is transferring control of the TRUFORMA product line to Zomedica, including the development of new tests and the manufacture of instruments and test kits. This will help Zomedica to develop new TRUFORMA assays more quickly and increase profitability directly after production.
Zomedica will offer upfront license fees and milestone installments, including the option to extend TRUFORMA's exclusive rights in the animal health market in perpetuity. The agreement also provides Zomedica with the right to purchase body acoustic wave (BAW) sensors from Qorvo for use in TRUFORMA products.
Larry Heaton, CEO of Zomedica, said: "This is an exciting milestone for Zomedica as it gives us control over the development and production of TRUFORMA products. As the number of TRUFORMA instruments installed increases, each new test we develop and introduce has the opportunity to be seamlessly integrated into our customers' diagnostic equipment without incurring new customer acquisition costs. Through these agreements, we are able to invest more directly as needed to bring more tests to market faster, while reducing the development and manufacturing costs of each test. These strategic agreements underscore Zomedica's ongoing commitment to working with industry partners in a flexible manner to deliver innovative products for veterinarians, clinical value for the animal health industry and economic benefits."
While Qorvo will continue to work with Zomedica on the development of the currently planned TRUFORMA assays, including the first assay for the equine market and several non-infectious gastrointestinal disease assays for the animal health market, Qorvo has agreed to provide technology transfer support to help Zomedica undertake the development of all future new assays for the TRUFORMA product line in Zomedica's global manufacturing and distribution centre in Roswell, Georgia, to establish manufacturing capabilities. At the end of this transfer period, Zomedica will control the development, production and commercialization of the TRUFORMA product line. It is expected that the manufacturing transfer process will take 18 months as specialized manufacturing equipment is produced and installed at the Zomedica facility.
About Zomedica
Headquartered in Ann Arbor, Michigan, Zomedica is an animal health company that creates companion animal products by focusing on the unmet needs of clinical veterinarians. services for animals.
About Qorvo
Qorvo has a long history of providing innovative RF solutions for a better connected world. We combine product and technology leadership with systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. We continue to maintain a leading position in these fast-moving and growing sectors. We also leverage our unique competitive advantages to advance 5G networks, cloud computing, the Internet of Things and other emerging application markets to enable the global interconnection of people, places and things.
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