CHARLESTON, S.C.--(BUSINESS WIRE)--SCRA’s Technology Ventures sector, which manages the commercialization and economic development program SC Launch, today announced a partnership between two SC Launch client companies. Lab21 Limited, a global specialist in personalized medicine and diagnostics, has licensed the use of Cooperative Diagnostics’ suite of patents and expertise. The use of these licenses will further the development of molecular diagnostic clinical procedures to test or measure the activity and potential impacts of drugs in humans.
“The Cooperative Diagnostics technologies bring powerful new tools to our development capability including fifth generation real-time PCR technology,” said Graham Mullis, CEO at Lab21.
Lab21 acquired SC Launch-supported company Selah Technologies in late 2009 and based its North American headquarters in Greenville, SC. The company provides diagnostic products and services and supports blood bank screening, medical diagnostics and drug discovery. Lab21 customers include international healthcare providers as well as pharmaceutical and diagnostic companies.
Cooperative Diagnostics, based in Greenwood, South Carolina, develops novel molecular technologies using biophysical models and statistical bioinformatics that efficiently diagnose many infectious diseases.
“This agreement strengthens two of our companies through coordination and partnership,” said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. “We congratulate both of these companies as they move forward.”
“Lab21’s partnership with Cooperative Diagnostics is an enormous win for South Carolina,” said SCRA CEO Bill Mahoney. “SC Launch-supported companies are reaching a state of maturity, and growing from small, start-up companies into well-respected, global organizations. This intra-portfolio relationship is an excellent example of how the knowledge-economy is working in South Carolina and shows that our investments are returning significant dividends to the state. We congratulate both Lab21 and Cooperative Diagnostics on this partnership and look forward to seeing positive outcomes for both companies.”
Financial details of the agreement were not disclosed.
About SCRA
SCRA is an applied research company with over 28 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $1.5 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.