Nexsen signs non-binding deal for 50:50 joint venture
- Nexsen entered into a non-binding term sheet to form a 50:50 joint venture with FlashDx Shenzhen.
- The deal provides early commercial access in Asia-Pacific markets, including Hong Kong and India.
- Nexsen will lead regulatory pathways, funded through its existing capital resources.
Nexsen (ASX:NXN) has entered into a non-binding term sheet with FlashDx Shenzhen to set up a 50:50 joint venture aimed at developing an enhanced molecular diagnostic test for Group B Streptococcus.
The proposed agreement builds directly on FlashDx's established, CE-marked diagnostic product to accelerate commercial entry across key target regions.
Managing Director, Mark Muzzin, commented, “We have built strong hospital, clinical and commercial relationships across Asia-Pacific, and FlashDx gives us the opportunity to combine that network with an established molecular technology that already underpins a CE-marked GBS diagnostic.”
The joint venture allows the combined entity to leverage proven molecular technology without having to build a molecular system from scratch.
Under the terms of the agreement, Nexsen will lead and fund regulatory filings for both the US Food and Drug Administration and the European Union In Vitro Diagnostic Medical Devices Regulation frameworks.
This newly planned product will expand Nexsen's existing clinical reach by targeting hospital settings alongside its separate StrepSure lateral-flow application.
Following the announcement, the Nexsen share price was unchanged at $0.14.
The target market addresses a condition present in 10% to 30% of pregnant women globally, representing roughly 132 million births each year.
