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3M, Gen-Probe end deal to develop infection tests

By Associated Press

June 17, 2008

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Conglomerate 3M Co. and Gen-Probe Inc. will end a collaboration to develop rapid tests for infections developed in hospitals, after the companies found their respective technology was incompatible with each other.

3M and Gen-Probe said late Monday they could enter into a marketing collaboration in the future.

Under the terms of the now void agreement, 3M, based in St. Paul, Minn., funded San Diego-based Gen-Probe development activities and agreed to make milestone payments. One payment was made in the fourth quarter of 2007.

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