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Print Edition StoriesWednesday, March 31, 2010
AgaMatrix, Sanofi-Aventis sign diabetes care deal
By Mass High Tech staff
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AgaMatrix Inc., a Salem, N.H.-based maker of blood glucose-monitoring products, has signed a development partnership deal with French company Sanofi-Aventis for diabetes therapeutics.
The agreement calls for Sanofi-Aventis to combine its insulins, Lantus and Apidira, with AgaMatrix’ blood glucose monitors (BGMs). Under terms of the deal, Sanofi-Aventis will hold exclusive licenses to the BGMs that are co-developed by the two companies and will sell through its Global Diabetes Division. AgaMatrix may continue to commercialize its own BGMs separately from the deal.
No financial terms of the agreement were disclosed.
AgaMatrix develops and provides blood-glucose test strips, handheld strip readers and companion software. The company’s WaveSense technology uses ‘dynamic electrochemistry’ to identify and correct errors in blood samples, manufacturing changes and environment conditions, according to the company’s website.
Founded in 2001, AgaMatrix was founded in 2001 by entrepreneurs Sonny Vu of MIT and Sridhar Iyengar of the University of Cambridge. The company incubated for two years in the offices of incTANK Ventures, which provided seed funding for the company.
AgaMatrix had its own expansion to Europe in 2007 when it launched a European subsidiary called WaveSense Europe Ltd.
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