Cantimer, Advanced Instruments announce license and product development agreement

Cantimer, Inc., and Advanced Instruments, Inc. today jointly announced that the two companies had signed a license and product development agreement. Under the terms of the license agreement, Advanced Instruments received an exclusive license to Cantimer's unique sensor technology for select applications in the biotech market. The Companies also entered into a Product Development Agreement for Cantimer to develop a specific sensor to integrate into Advanced Instruments' products for in-situ monitoring of osmolality in bioreactors and fermenters. The companies anticipate that a long term sensor supply agreement will follow the joint development effort and that developed products will be sold to end-users through Advanced Instruments' existing commercial network.  

"Monitoring osmolality is a critical control parameter in the biotech market. Traditionally this has been accomplished using discreet samples on a laboratory instrument. Cantimer's unique sensor technology makes it possible to measure osmolality in the bioreactor and in real time, reducing the possibility of product contamination and enabling tighter product quality control" said John Coughlin, CEO of Advanced Instruments. "The industry has been asking for this capability for many years and we believe Cantimer's technology will allow us to finally address their needs" he added.

Cantimer's sensor platform can be adapted to detect and measure a broad array of chemical and biological compounds of interest and has application in markets as large and diverse as life science research, point-of-care diagnostics, consumer health, bio-defense and environmental monitoring. The Company's technology enables the development of simple, portable devices that are robust, sensitive, low-cost, label-free and easy-to-use. In parallel to the development of its own first commercial product, a pocket device for non-invasive measurement and monitoring of changes in human hydration, the Company has undertaken a number of sensor development projects for strategic partners.

"Advanced Instruments has been a very supportive investor and an enthusiastic strategic partner", commented Robin Stracey, CEO of Cantimer, Inc. "We look forward to this joint development effort with great enthusiasm".