QuantRx Biomedical Corporation (QuantRx) has entered into a technology license agreement with Church & Dwight Co., Inc. (Church & Dwight). Under the terms of the agreement, Church & Dwight acquired exclusive world-wide rights to use certain QuantRx technology related to a jointly developed at-home diagnostic test for the consumer Over-the-Counter market. Under the long-term agreement, QuantRx has received a commercialization fee and shall receive royalties on net sales of the product.
QuantRx expects that the product will be launched by Church & Dwight under its First Response brand and will be available at the retail level in the second quarter of 2009.
“We are pleased to have been chosen by Church & Dwight to develop a new at-home diagnostic test to help fuel their continued growth in the Over-the-Counter market.” stated William Fleming, president of QuantRx’ Diagnostic Group. “This partnership helps underscore our ability to rapidly apply our technological expertise to meet the market needs of our partners. It also provides QuantRx with a long-term revenue stream, while we continue developing a robust proprietary product pipeline to bring innovative products to the point-of-care market.”
“QuantRx has been developing professional and OTC diagnostic products for our partners for several years, and has focused on rapid integration of technology to meet the market needs of its partners around the world. Our unique technologies, technical expertise, and flexibility allow QuantRx to successfully meet the needs of both large and small partners,” stated Fleming.