Astute Medical Inc. has signed an agreement with a Chinese pharmaceutical firm for the distribution of its renal risk diagnostic in China. The deal also includes a $20 million investment in Astute.
The agreement with Shanghai Fosun Long March Medicine Science Co. Ltd. (Fosun Long-March), a wholly-owned subsidiary of Shanghai Fosun Pharmaceutical Co. Ltd. (FOSUNPHARMA), will expand the global presence of the NephroCheck Test, the only test that has received U.S. regulatory clearance as an aid in the assessment of risk for acute kidney injury.
A recent study states that AKI is both common in hospitalized adults in China, and associated with significantly higher in-hospital mortality, according to Astute Medical.
Under the terms of the multiyear agreement, Fosun Long-March will be the distributor of the NephroCheck Test in China. Further financial details of the transaction were not disclosed.
Astute Medical, based in San Diego, provides diagnosis of high-risk medical conditions through the identification and validation of protein biomarkers.
This is Astute’s third agreement for distribution/sales of its product. The company previously signed agreements with OrthoClinical and bioMerieux.