In 2007, Carclo established a joint project with BBI Holdings plc (“BBI”), to develop a low cost immuno-assay based on technology developed by a venture capital backed company, Platform Diagnostics Limited ("PDL"). BBI contributed the assay chemistry which was initially aimed at a test for D-dimer, an indicator of deep vein thrombosis. Carclo contributed the hardware development: precision moulded microfluidics, mechanical design and an innovative low cost reader based on Carclo's own Conductive Inkjet Technology. This development was completed at the end of 2010. Carclo’s investment over the life of the project was £0.7 million. The joint project successfully demonstrated a low cost, single use, Point-of-Care quantitative test for D-dimer.
Carclo retained ownership of the patents and IPR related to the hardware platform and the low cost reader. It is apparent that this technology has application across a broad range of Point-of-Care diagnostic tests and is not limited to use with PDL’s Capillary Agglutination Technology (“CAT”). Accordingly, we have formed Carclo Diagnostic Solutions Ltd to hold the intellectual property rights and to offer access to this innovative platform. Carclo Diagnostic Solutions Ltd has also taken an exclusive licence on PDL’s technology and will invest £0.5 million over the next 12 months to expand the range of assays applicable to the CAT technology. We plan to invest an additional £0.5 million directly in Carclo Diagnostic Solutions Ltd to develop the hardware platform for use with industry standard ELISA assays.
We have entered into a partnership with EKF Diagnostics Ltd ("EKF ") to bring their Argutus Medical kidney markers to market in this innovative format. We are exploring further partnerships with other key players in the diagnostic market. We do not plan to enter the diagnostic market directly, nor to develop or own the bio-chemistry behind the assays. However, we will retain manufacturing rights for devices based on our IPR to underpin the continued growth of Carclo Technical Plastics.