INOVIQ and Promega announce global joint marketing agreement for EXO-NET exosome isolation and nucleic acid purification solutions
- INOVIQ and Promega sign a global joint marketing agreement for INOVIQ’s EXO-NET® exosome capture technology and Promega Nucleic Acid purification systems
- Initial deal enables co-marketing of both INOVIQ and Promega products to deliver exosome solutions to global customers for manual and high-throughput exosome isolation and nucleic acid extraction
- Agreement expected to deliver world-class exosome tools and technologies to researchers, pharma and clinical laboratories globally to enable their exosome isolation, biomarker discovery and diagnostics needs in a market expected to reach US$8.7b by 2029
Melbourne, Australia and Madison, WI USA. (July 26, 2023)
INOVIQ Limited (ASX:IIQ) (INOVIQ), an innovative developer of exosome solutions and precision diagnostics, and Promega Corporation (Promega), a global leader in innovative technologies, tools and technical support to the life sciences industry, today announced a joint marketing agreement to co-market INOVIQ’s EXO-NET® exosome capture technology and Promega Nucleic Acid purification systems worldwide.
Joint marketing agreement
INOVIQ and Promega have formalized a global joint marketing agreement that will offer world-class exosome solutions for manual and high-throughput exosome isolation and nucleic acid extraction to researchers and industry for exosome-based biomarker discovery and diagnostics development.
This agreement combines the expertise of global biotechnology leader Promega in the creation, production and marketing of an extensive range of research tools, technologies and automation solutions, with INOVIQ’s disruptive EXO-NET technology, exosome capture tools and exosome-based diagnostics expertise.
Under the agreement, global customers will be offered a wide range of Promega manual and automated nucleic acid extraction reagents and instruments combined with INOVIQ’s EXO-NET exosome capture tools to enable their exosome isolation, biomarker discovery and diagnostics research.
Deliverables in the agreement relate to co-marketing materials and activities for INOVIQ and Promega products. The initial term of the agreement is three years, with one-year automatic renewals unless terminated by either party. Furthermore, INOVIQ and Promega anticipate expanding the agreement to cover a range of exosome solutions for exosome isolation, characterisation and analysis kits, and instruments.
INOVIQ EXO-NET exosome capture technology
Dr Leearne Hinch, INOVIQ Chief Executive Officer, said: “Promega is the ideal partner to expand the global reach of INOVIQ's EXO-NET exosome capture technology. Together, INOVIQ and Promega can provide innovative exosome solutions to researchers, pharmaceutical companies and clinical diagnostic labs, enabling their exosome isolation, biomarker discovery and diagnostics research.”
Promega has already proven to be an invaluable collaborator, having supported INOVIQ to optimise its EXO-NET exosome capture technology on High-Throughput (HT) sample processing equipment capable of handling 96 samples per run within 40 minutes. A HT EXO-NET solution was critical to the ongoing development and clinical validation of INOVIQ’s exosome-based Ovarian Cancer Test. This blood test has the potential to aid in earlier detection of ovarian cancer, when it can be cured and help save women’s lives. Our new HT EXO-NET solution truly enables the development and commercialisation of exosome-based diagnostics in clinical laboratories worldwide.”
Promega Nucleic Acid purification systems
Promega, a global leader in providing innovative tools and technologies to the life sciences industry, was founded in 1978 by its Chairman and CEO, Bill Linton, and is headquartered in Madison, WI, USA. The company’s 2022 annual revenue was over US$700 million. Promega employs over 2000 employees across 16 countries, and provides over 4,000 products supporting research across genomics, proteomics, cellular analysis and molecular diagnostics. Its product portfolio includes reagents, enzymes, antibodies, assays and instrumentation used in applications for DNA, RNA and protein analysis, drug discovery, and genetic identity testing. Promega products are used by researchers in academic institutions, pharmaceutical companies, clinical diagnostics laboratories, and other life science organizations worldwide.
Tom Livelli, Promega Vice President, Life Sciences, said: “We look forward to partnering with INOVIQ to co-market its disruptive EXO-NET exosome isolation tools alongside Promega Nucleic Acid extraction reagents and instruments to deliver world-class exosome solutions to our global academic, pharma and clinical customers.
Promega recently collaborated with INOVIQ to optimise a high-throughput exosome isolation and nucleic acid extraction solution for our customers worldwide. This new HT exosome isolation and biomarker analysis solution solves an industry challenge needed to commercialise exosome-based diagnostics. Promega is committed to realizing the commercial potential of exosomes for drug discovery and development of non-invasive diagnostics for use in screening, liquid biopsies and precision medicine across Oncology, Neurology, Cardiology, Immunology and other indications.”
Contributing to precision medicine
Both INOVIQ and Promega are poised to leverage their expertise and resources to advance exosome-based biomarker discovery and diagnostics development, further contributing to the field of precision medicine.
About Promega Corporation
Promega Corporation is a leader in providing innovative solutions and technical support to the life sciences industry. The company’s portfolio of over 4,000 products supports a range of life science work across areas such as cell biology; DNA, RNA and protein analysis; drug development; human identification and molecular diagnostics. These tools and technologies have grown in their application over the last 45 years and are used today by scientists and technicians in labs for academic and government research, forensics, pharmaceuticals, clinical diagnostics and agricultural and environmental testing. Promega is headquartered in Madison, WI, USA with branches in 16 countries and over 50 global distributors.
ABOUT INOVIQ LTD
INOVIQ Ltd (ASX:IIQ) (INOVIQ) is developing and commercialising next-generation exosome solutions and precision diagnostics to improve the diagnosis and treatment of cancer and other diseases. The company has commercialised the EXO-NET pan-exosome capture tool for research purposes and the hTERT test as an adjunct to urine cytology testing for bladder cancer. Our cancer diagnostic pipeline includes blood tests in development for earlier detection and monitoring of ovarian, breast and other cancers.