Targeted Strategies for Today's Evolving Markets

MissionIR Blog

IVAX Diagnostics, Inc. (IVD) Signs Agreement with Biomerica, Inc. (BMRA.OB)

Today, fully integrated in vitro diagnostics company IVAX Diagnostics, Inc. signed a two year agreement with Biomerica, Inc. for the nationwide and global distribution of Biomerica’s products, with certain country and product exclusions.

As per the agreement, IVAX Diagnositcs’ subsidiaries, Diamedix Corporation and Delta Biologicals S.r.l., will have the right to distribute Biomerica’s suite of products including the 33 ELISA test kits in the areas of diabetes, gastrointestinal disease and bone/mineral disorders. The products will initially be marketed under the Biomerica name; if certain initial sales levels are achieved, it will be marketed under the Diamedix brand in the U.S. and Delta Biologicals brand internationally.

Dr. Charles Struby, CEO and President of IVAX Diagnostics, commented, “This agreement with Biomerica is expected to not only broaden and enhance our ELISA suite of products by adding GI, diabetes and bone/mineral testing products to our line of autoimmune test kits, but also expand our entry into the Rapid Point-of-Care testing market, a global market that is estimated to be $10.3 billion. We expect Biomerica’s products to significantly enhance our ability to offer unique and innovative tests to the approximately 600 installed Mago® instruments that are being used by our customers. This agreement is another step toward our goal of expanding our innovative diagnostics products, and increasing our presence in both the U.S. and international markets. We are pleased to be working with Biomerica and bringing their novel tests to the marketplace.”

Zackary Irani, CEO of Biomerica, added, “IVAX Diagnostics’ customer base of nearly 600 installed Mago® instruments offers both our companies a significant opportunity to increase sales. As our tests complement those already sold by Diamedix and Delta Biologicals, we believe their experienced sales forces and ability to reach global markets, will produce positive results.”

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *