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Accelr8 Technology, Novartis deal

August 1, 2011 7:00 AM UTC

The parties extended to Sept. 30 the evaluation period for a deal under which Novartis' Novartis Vaccines and Diagnostics Inc. subsidiary is evaluating Accelr8's BACcel rapid diagnostic system in identifying the type and quantity of bacterial pathogens in clinical specimens. Additionally, Accelr8 said Novartis will now install a BACcel system at its own facility to expand development capacity and will add its own independent team of microbiologists. Novartis and Accelr8 said they will negotiate and agree upon business terms for a formal business relationship by Sept. 30. Novartis also has an option to further extend project support through Jan. 2, 2012. Terms were not disclosed. ...