Acrongenomics, Imperial's Molecular develop diagnostic devices

Acrongenomics Inc., a Swiss life science venture company and Molecular Vision Ltd., a spin-out from the Imperial College London, said they have signed a memorandum of understanding to jointly develop diagnostic devices for diabetes, drug abuse, STDs and cardiovascular diseases.

Both companies didn’t disclose the financial details of the agreement but added the collaboration will be using Molecular Vision's diagnostic chips which are based on a technology that incorporate microfluidics and organic semiconductor devices (light emitting diodes and photodetectors).  The two companies are targeted at a testing market that is estimated to reach $18 billion by 2010 (BCC Research).

Moelcular Vision is co-founded by Professor Andrew de Mello, who is a professor of Chemical Nanosciences in the Department of Chemistry at Imperial College. The other co-founder is Dr John de Mello who is a senior lecturer in nanomaterials in the Department of Chemistry at Imperial College. His primary research interests include organic semiconductors, miniaturized devices for chemical and biological diagnostics, and intelligent synthesis techniques for the controlled production of nanoparticles. The company was founded in 2002.