Rochester, Minn.-based Mayo Clinic has entered into a know-how license agreement and stock purchase agreement with tech company Genomadix.
As part of the agreement, Mayo Clinic will help the company advance its point of care molecular analyzer technology dubbed the Genomadix Cube, according to an Aug. 29 press release.
The Genomadix Cube uses polymerase chain reaction technology in a portable footprint to generate timely test results.
According to the press release, any revenue the technology generates will go toward supporting Mayo Clinic's patient care, education and research.
"We are extremely proud to be collaborating with Mayo Clinic to progress our technology and mission to make highly accurate molecular testing available for the benefit of patients," said Steve Edgett, CEO of Genomadix. "This collaboration seeks to seed new product developments with focused expertise provided by Mayo Clinic experts."