Amphion signs MoU with Myconostica

Amphion Innovations, a New York, USA-based developer of technology and life sciences businesses, says that it has signed a memorandum of understanding (MoU) with Myconostica Ltd which grants it an exclusivity period in which to agree final terms on an investment in Myconostica as its next partner company. Myconostica is a spin out of the UK-based University of Manchester, with close links to other leading research institutions in the USA and Europe, which is developing products focused on the more speedy, accurate and cost effective diagnosis of infectious diseases.

Amphion chief executive Richard Morgan commented: "in partnership with Amphion, this company will become a leading supplier of a new generation of diagnostic tools that will provide more accurate diagnosis and in a fraction of the time currently required. This is a great market opportunity which will also provide enormous benefits to patients worldwide and we look forward to working with Myconostica to finalize terms in the next few weeks."