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| Sgx Clarity System--Screenshot courtesy of Singulex |
Molecular diagnostics company Singulex has gained a $50 million investment from Grifols in exchange for a 20% stake. The deal provides an exclusive worldwide license of Singulex technology to the Spanish company for use and sale in the screening of donor blood and plasma. The investment gives the company an implied value of $250 million, which is substantial for a diagnostics startup.
The Alameda, CA-based company has developed single molecule counting (SMC) technology, which it says can detect biomarkers of disease that were previously undetectable. It expects that application of this technology will offer greater diagnostic sensitivity, accuracy and efficiency that can be used to create safer blood and plasma products.
Singulex investors also include Fisk Ventures, OrbiMed Advisors, JAFCO and Prolog Ventures.
"As one of the world's leaders in the manufacturing of plasma products to treat a variety of rare, chronic and life-threatening conditions, safety and screening of donated human blood and plasma is critical for Grifols," said Grifols Diagnostic President Carsten Schroeder in a statement. "Singulex' SMC technology and leadership in next generation immunodiagnostics presents Grifols with the diagnostic sensitivity, accuracy and reliability to develop more advanced blood screening platforms."
Current tech detects only about 5% of the proteins in the proteome due to the low presences of many biomarkers; that leaves most proteins virtually undetectable. But the SMC tech combines signal enhancement, background reduction, low-volume sampling to achieve ultrahigh-sensitivity protein detection.
Last year, Singulex did a deal with Merck's ($MRK) EMD Millipore, which acquired exclusive rights to develop and commercialize its SMC technology for research applications. Interestingly, EMD Millipore is actually controlling and managing the Singulex Life Science Research business. It paid Singulex undisclosed amounts for upfront payment, royalties and additional payments based upon achievement of certain commercial milestones.
The startup continues to operate its own clinical lab testing and in vitro diagnostic businesses. As part of the latter, it has developed the Sgx Clarity System, an IVD system based on SMC technology that it expects to sell to hospitals and laboratories globally. Its clinical lab service offers tests for the early detection of cardiac and vascular disorders.
"Our technology already has the power to provide definitive answers for physicians and patients for improved health outcomes and is backed by extensive peer-reviewed publication and industry adoption," said Singulex President and CEO Guido Baechler. He added on the Grifols deal, "This new partnership will help us shape and develop the future of blood screening technology and make major advancements in the safety of next generation blood products."
- here is the announcement