Quanterix announced (NSDQ:QTRX) announced that it entered into a licensing agreement with Abbott (NYSE:ABT).
Billerica, Mass.-based Quanterix’s agreement with Abbott is a non-exclusive, royalty-bearing license agreement that grants Abbott access to Quanterix’s portfolio of bead-based technology patents for use with in vitro diagnostic applications, according to a news release.
Under the terms of the agreement, Quanterix will receive an initial license fee, milestone fees subject to the achievement by Abbott of future development, regulatory and launch milestones, along with royalties on sales of the licensed products.
No other financial details related to the agreement were disclosed by either company.