TearLab Corporation (Nasdaq:TEAR) has entered into a cooperative marketing agreement with Abbott Medical Optics Inc.’s subsidiary, AMO Canada Company. Under the agreement, AMO Canada’s sales force will directly sell the TearLab Osmolarity System in Canada while TearLab will help promote AMO Canada’s products for the relief of dry eye symptoms, including Blink Moisturizing Eye Drops. Financial terms were not disclosed.
Dry Eye Disease (“DED”) is a common condition affecting approximately 100 million people worldwide. In its mild to moderate forms, it can reduce the quality of vision and the ability to go about daily activities. In its more severe forms, DED can lead to permanent loss of vision. According to numerous peer-reviewed studies, Tear Osmolarity is the single best test for the diagnosis of DED.
TearLab Corporation develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System.
Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC (“XGen”) towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
Proteonomix CEO, Michael Cohen commented that “The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement.”
No comments:
Post a Comment