Luas Diagnostics (LD) has signed an option agreement with Molecular Warehouse (MW) of Guildford, Surrey.
Under the terms of the agreement MW, who are a 49% shareholder in LD, will sell to LD certain fixed assets and know-how relating to the technology used to develop tests for Therapeutic Drug Monitoring. The assets to be acquired by Luas will also include the data surrounding the development of the device used to read and record the results.
Under the terms of the agreement Luas will make a cash payment to MW within a period of 12 months from the date of signing.
The option agreement will facilitate and accelerate the development of both the TDM and Covid-19 tests in the company’s R&D programmes.