IRIS Licenses Blood Technology

Chatsworth company IRIS International Inc. has entered into a manufacturing and supply agreement with IDEXX Laboratories Inc. in a deal worth $1.5 million. IRIS Sample Processing has granted IDEXX an exclusive worldwide license to manufacture the whole blood separator technology it developed for IDEXX’s new chemistry analyzer for the veterinary market in exchange for the $1.5 million upfront cash payment and future royalties beginning in 2014. The agreement runs through Dec. 31, 2020. Beginning in 2016, IDEXX may assume manufacturing for the drive systems by paying IRIS a per unit royalty for the remaining term of the agreement. IRIS manufacturers urinalysis systems and consumables for use in hospitals and commercial laboratories.