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(Sharecast News) - Verici Dx, a developer of advanced clinical diagnostics for organ transplants, announced a significant milestone achievement under its agreement with Thermo Fisher Scientific on Monday.
The AIM-traded firm said Thermo Fisher confirmed the successful transfer and completion of all activities related to the pre-transplant prognostic testing technology licensed from Verici Dx.
It said the technology transfer enabled Thermo Fisher Scientific to develop a laboratory-developed test (LDT) in its own laboratories.
The achievement triggered a milestone payment to Verici Dx, as outlined in the global licensing and commercialisation agreement announced on 15 November last year.
Verici said the milestone aligned with previously-disclosed expectations.
"I am delighted to announce this smooth transition between Verici Dx and Thermo Fisher Scientific," said chief executive officer Sara Barrington.
"This collaboration brings together Verici Dx's innovative technology into Thermo Fisher's new CLIA laboratory in the US, which will ultimately benefit patients and the field of organ transplantation."
At 1057 BST, shares in Verici Dx were up 8% at 6.75p.
Reporting by Josh White for Sharecast.com.
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