BG Medicine Inc. and Inverness Medical Innovations Inc. (NYSE:IMA) inked a deal to develop and commercialize a galectin-3 test for heart failure.
The Waltham, Mass.-based companies said Inverness will develop the test for its Triage Meter Pro testing platform in collaboration with BG, which will support the effort and its regulatory filings, according to a press release.
Galectin-3 is a biomarker believed to play a role in detecting the development and progression of heart failure, according to the release. BG Medicine already has a deal in place with Corgenix Medical Corp. (OTC:CONX) to manufacture the biomarker and another pact with Abbott (NYSE:ABT) to develop a version of the test for Abbott’s Point of Care i-STAT hand-held blood analyzer.
Earlier this year BG Medicine filed with the Securities & Exchange Commission for an $86.3 million IPO, almost exactly two years to the day after pulled a similar bid to go public. The company won CE Mark certification for the galectin-3 test in the European Union in October 2009 and is expecting U.S. regulatory approvals later this year.