Sphere Medical has announced that its collaborative partner Ortho Clinical Diagnostics has chosen not to move forward with distributing Sphere's Proxima 4 device.
The companies originally agreed to collaborate on the development of Proxima 4 in 2013, a deal that gave Ortho Clinical Diagnostics an option to negotiate for the acquisition of exclusive global commercialisation rights for the system.
“Sphere Medical is seeking a new commercial partner for distribution of its Proxima 4 device after ending its relationship with Ortho Clinical Diagnostics.“
However, following Ortho Clinical Diagnostics' acquisition by the Carlyle Group last year, it has chosen not to exercise this option, meaning Sphere will retain the commercialisation rights and is free to enter into discussions with other interested partners.
Sphere will continue with the finalisation of the submission process for CE Mark approval of the Proxima 4 device while it further develops strategies for commercialisation.
Dr Wolfgang Rencken, chief executive officer of Sphere, said: "We look forward to engaging with parties who are well placed to sell into the attractive, global critical care market."
Proxima 4 will be Sphere Medical's second commercial iteration of the system, incorporating glucose and sodium analysis within the sensor panel and adding connectivity to hospital information systems.See all the latest jobs in Medical Devices