QuantRx Biomedical in joint venture
QuantRx Biomedical Corp., a Doylestown company that develops diagnostic products, said today that it has entered into a joint venture with NuRx Pharmaceuticals Inc. to sell new point-of-care products.
QuantRx Biomedical Corp., a Doylestown company that develops diagnostic products, said today that it has entered into a joint venture with NuRx Pharmaceuticals Inc. to sell new point-of-care products.
The new venture, called QN Diagnostics L.L.C., is based in Portland, Ore., and equally owned by QuantRx and NuRx, which is based in Irvine, Calif. It will receive more than $5 million in financing from NuRx.
Point-of-care products allow for testing and diagnosis at home or in the office of a health-care provider. The companies said the market size is estimated at $5 billion a year, and growing at about 15 percent a year.