Saladax Biomedical has entered into a multi-year development and commercialization agreement with Bristol-Myers Squibb company for the development of certain clinical diagnostic tests to be used in conjunction with the development of certain therapeutic compounds in the Bristol-Myers Squibb pipeline.

Under the terms of the agreement, Saladax Biomedical and Bristol-Myers Squibb will collaborate globally on development and regulatory approvals. Saladax received exclusive global rights to commercialize the assays it develops.

Saladax Biomedical develops diagnostic tests for the practical delivery of personalized medicine.

Salvatore Salamone, CEO of Saladax, said: "The collaboration demonstrates our capability to develop clinical diagnostics with a leading global pharmaceutical company such as Bristol-Myers Squibb. The breadth and flexibility of Saladax's core scientific capabilities can be applied broadly to clinical diagnostics in different therapeutic categories."