The aim of the agreement is to develop and market a novel system which produces faster time to results and accurately detect microorganisms.

As per the agreement, SDIX will provide BD Diagnostics access to its proven antibody technology and a non-exclusive license to its patented bacteria phage technology.

SDIX will receive a $1.25m upfront fee for a combination of license fees, technology access fees, and paid-for research during system development from BD Diagnostics.

It will also receive up to $2.5m in milestone payments and royalties on product sales including SDIX’s patented technology.

SDIX said upon commercialization of this system, it will be engaged in a long term agreement for the supply of antibodies to BD.

SDIX president and CEO Francis DiNuzzo said the combination of its antibodies together with the assay and platform capabilities of BD will enable the collaboration to deliver a highly valuable system that they expect to advance microbial detection in many very valuable applications.