Cleo Diagnostics (ASX:COV) started the technology transfer activities to develop its blood test designed for early detection of ovarian cancer, according to a Tuesday filing with the Australian bourse.
The technology transfer includes the transfer of its in-house development activities to a manufacturer to support commercial production, the filing said.
Accordingly, the company has partnered with US-based R&D Systems, a unit of Bio-Techne Group, to handle pre-production kit assembly and testing, the filing added.
After successful testing, a selected contract manufacturing organization (CMO) will expand production and complete verification and validation to produce in-vitro diagnostic kits for clinical use, the company said.
Final negotiations with US Food and Drug Administration-approved CMOs are underway, with the selection based on manufacturing capacity and regulatory compliance, the company added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.