Mobidiag a commercial stage molecular diagnostics company addressing the spread of antimicrobial resistance, announces the launch of Automobi Molecular Diagnostics Co., (‘Automobi’), the joint venture (‘JV’) between Mobidiag and Autobio Diagnostics (‘Autobio’), one of the clinical diagnostics companies in China. Automobi is responsible for commercialising the Novodiag® platform and selected infectious disease assays in the Greater China territory.
Automobi’s initial activities will include the registration of the Novodiag® platform and first assays with the National Medical Products Administration (NMPA, former CFDA). Automobi will also establish local facilities in China to manufacture certain Novodiag® components and disposables, for the Greater China territory.
Tuomas Tenkanen, CEO of Mobidiag, said “We are very excited to announce the official launch of Automobi. We have found the ideal partner in Autobio and are confident that together we will be able to bring easy-to-operate, multi-target molecular diagnostics and innovative syndromic diagnostic panels to the growing Chinese market with affordable price.”
Yongjun Miao, Chairman of Autobio said “We are confident of the combined multiplex real-time PCR together with microarray technologies that applied in IVD diagnostics of infectious diseases, allowing sample-to-result analysis in a disposable cartridge. We will work jointly to complete the registration required by local regulations with the aim of introducing the market with better products and serving human health with better assays.”
As previously announced in December 2018, Mobidiag and Autobio jointly agreed to invest €12.3m to establish Automobi in China. Autobio is investing €8m in cash to hold 65%, and Mobidiag is investing €4.3m to hold 35%. Under the terms of the partnership, Automobi acquired an exclusive license from Mobidiag to commercialise the Novodiag® platform and selected human infectious disease assays (excluding sepsis) for China.
In December 2018, Autobio invested €10m in Mobidiag. These funds are being used to grow the Company’s product portfolio, accelerate the development of further assays for the Novodiag® system and enhance its manufacturing capabilities, as well as to further facilitate Mobidiag’s commercial expansion.