Glycoanalysis developer ProCognia (Israel) Ltd. (TASE:PRCG) has signed a strategic collaboration and co-promotion agreement with Boston-based biotechnology services provider SBH Sciences Inc. The companies provide complementary services to the biopharmaceutical and pharmaceutical industries, and they will offer joint sales and marketing activities for these services. Procognia's share price rose 18.3% by early afternoon to NIS 0.58, giving a market cap of NIS 14 million.
SBH Sciences will also serve as a local center for Procognia's glycosylation analysis services, and will be responsible for shipment of samples for analysis to Procognia’s main facility in Israel.
Procognia CEO Dr. Ruth Ben-Yakar said, “We are looking forward to collaborate with SBH Sciences, an experienced and innovative contract research organization with diverse services, products and capabilities, and we believe that through this collaboration we would provide our customers with access to unique and high quality tools for efficient and successful development of their products."
SBH Sciences president and CEO Dr. Raphael Nir added, “We are excited to be working with Procognia, leaders in glycobiology and glycosylation analysis. Our complementary capabilities would provide on-time exemplary customer service that will give our customers a competitive edge in the industry".
Published by Globes [online], Israel business news - www.globes-online.com - on April 7, 2013
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